Required information [T he following information appiies to the questions displayed beiow] Phoenix Management helps rental property owners nd renters and charges the owners onehalf of the first month's rent for this service. For August 2019, Phoenix expects to nd renters for 100 apartments with an average first month's rent of $1,070. Budgeted cost data per tenant application for 2019 follow: . Professional iabor: 1.5 hours at $18.00 per hour . Credit checks: $70.00 Phoenix expects other costs. including the lease payment for the building, secretarial help, and utilities, to be $5,000 per month. On average. Phoenix is successful in placing one tenant for every three applicants. Actual rental applications in August 2019 were 270. Phoenix paid $8,100 for 390 hours of professional labor. Credit checks went up to $75 per application. Other costs in August 2019 (lease, secretarial help, and utilities} were $5,600. The average rst monthly rentals for August 2019 were $1,200 per apartment unit for 90 units. Required: 1. (a) What is the total operating income variance for August 2019? (b) What is the total flexiblebudget variance for the month? (c) What is the sales volume variance for the month? 2. Determine the professional labor rate and labor efficiency variances for August 2019. Required: 1. (a) What is the total operating income variance for August 2019? (b) What is the total exiblebudget variance for the month? (c) What is the sales volume variance for the month? 2. Determine the professional labor rate and labor efficiency variances for August 2019. The total operating income vanance 1b. The total exiblel3 udget variance 1c. The sales volume variance 2. Direct labor rate variance Direct labor efciencyr variance