PLEASE SHOW ALL WORK/CALCULATIONS AND FORMULAS IN EXCEL IF POSSIBLE.

2 (10 points). Jar Jar, Inc., produces a practical joke concoction that can make anyone who drinks it to become a bumbling buffoon and a general annoyance for 15 minutes. The liquid concoction is sold in 42 ounce cans and has no known side effects. Jar Jar employs a team of sales representatives that consist of Tuskens and Jawas who are of course paid varying amounts of commission. Given the narrow margins in the practical jokes industry, Jar Jar relies on tight standards and cost controls to manage its operations. Jar Jar has the following budgeted standards for the month of June: Average selling price per can Total direct materials cost per can Direct manufacturing labor cost per hour Average sales commission cost per can Fixed administrative and manufacturing overhead Average labor productivity rate $8.30 3.60 15.00 0.72 990,000 100 cans per hour Jar Jar budgeted sales of 700,000 cans for June. At the end of the month, the controller Rugor Nass revealed that actual results for June had deviated from the budget in several ways: Unit sales and production were 90% of plan. 2. Actual average selling price decreased to $8.20. 3. Productivity dropped to 90 cans per hour. 4. Actual direct manufacturing labor cost was $15.20 per hour 5. Actual total direct material cost per unit increased to $3.90. 6. Actual sales commissions were $0.70 per can. 7. Fixed overhead costs were $110,000 above budget. Calculate the following amounts for Jar Jar for June: Required a. Static-budget and actual operating income b. Static-budget variance for operating income c. Flexible-budget operating income d. Flexible-budget variance for operating income e. Sales-volume variance for operating income f. Price and efficiency variances for direct manufacturing labor g. Flexible-budget variance for direct manufacturing labor