Question 2: Islanders Inc. make hockey equipment. One of the main products they sell are hockey sticks. When Islanders Inc. were preparing their budget for 2018, they had estimated these numbers in regard to the hockey sticks they make and sell 40,000 sticks $18.00 per stick 9 pounds $158,400 2 hours $11 per hour $4.20 $26,400 Units Sold Price: Direct Material per hockey stick: Total Cost of Direct Materials: Direct Manufacturing Labor Hours per stick Labor Wage Rate Variable Manufacturing per DLMH: Fixed Manufacturing Costs: On December 31, Islanders Inc. had these numbers regarding the manufacture and sale of their hockey sticks. Units Sold Average Price per Unit Average Direct Materials per hockey stick Average cost per ounce of DM Total Direct Labor Manufacturing Hours Total Direct Labor Manufacturing Costs: Variable Manufacturing Costs (based off DLMH): 31,977 Fixed Manufacturing Costs: 39,600 sticks $18.25 per stick 85 pounds 4.50 per pound 7,524 hours $84,645 $26,700 Using this information, please do the following Calculate the Sales Volume Variance for Revenue, Variable Manufacturing Overhead, and Fixed Manufacturing Overhead. Calculate the Spending, Efficiency and Flexible Budget variance for Direct Materials Calculate the Spending, Efficiency and Flexible Budget variance for Direct Labor a. b. c. a. Sales Volume Variances Revenue: Variable Manufacturing Overhead: Fixed Manufacturing Overhead: b. Direct Materials Efficiency Variance: Spending Variance: Flexible Budget Variance: c. Direct Labor Efficiency Variance:, Spending Variance: Flexible Budget Variance