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QUESTION 21 1.5 points Seve The budget below was prepared for Jo Incorporated for its Maing Department Direct materials used Direct labor Variable manufacturing over Fixed manufacturing overhead Required: Budgeted Production (6,000 Units) $20.000 48.000 0.000 60.000 Actual Production (7.000 Unita) 50.000 56.200 0.000 64.200 y compute the rounds that should be included for noch of the allowing in a famibe budget prepared to a 7000 ent level of production (3 mery (2) Direct labor (3) Variable manufacturing overhead (4) Faed manufacturing overbod (B) Assume that a revised performance report is prepared for the 7000-unit level of production using a feble budget approach Compute the varios for each of the following and indicate whether each variance in favorable (F) or unfavorable (U-1.75 each) (1) Direct materials (2) Direct labor