Question 3 The president of the company, Gregory Peters, has come to you for help. Use the following data to prepare the budgets for possible sales production levels of 10,000, 11,000, and 12,000 units. Show the contribution margin and operating income for every budget. $24 per unit Sales price Variable costs: Materials Labor Others Fixed costs: Manufacturing Administrative $12 per unit $ 3 per unit $1 per unit $60,000 $20,000 Question 4 Giving the following information: a) Actual materials input used b) Actual labor input used c) Actual price of materials per unit d) Actual price of labor per hour e) Flexible budget price of materials per unit 1) Flexible budget price of labor per hour 8) Flexible budget units of materials h) Flexible budget hours of labor 8,500 KG 3,500 hours $16 S10 $18 $8.5 8.000KG 3,200 hours Required: a) The price variance for both materials and labor b) The efficiency variance for both materials and labor