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Reference Reference Reference Stenback manufactures cotlee mugs that it sols to other comparibs for customicing wth their own logos. (Colck the ioon to view the cost data) Actual cost and producfion information for July 2018 follows: (3) (Click the icon to view actual cost and production information.) Stenbacks standsed and actual sales price per mug is $3 Stentack caloulated the following variances and recorded the following erties for 2uly 2018. (Click the icon to view varlances.) (Click the kon to view joumal entries) Peepare the standard costing income stulemect for July 2016. (Use a mucus sion or parentheses to enter ary contra topenses andior an operabing loss: Enter as oiter Data table Stenback prepares fexible budgets and uses a standard cost system to contpol manufactuning costs. The standard unit cost of a coflee mug is based on static. budoet volume of 59.800 coffee mugs per month: More info a. There were no begioning of ending inventory balances All expenditures were on account b. Actual production and sales wece 62,500 coffee mugs c. Actual drect materials usage was 10,000 ibs at an actual cost of $0,17 per ib d. Actual drect labor usage was 190,000 minutes at a botal cost of $23,760. e. Actual ovehead cost was $4,050 variable and $35,750 fined f. Selling and administrative costs were $98,000