Required information [The following information applies to the questions displayed below. Phoenix Management helps rental property owners find renters and charges the owners one-half of the first month's rent for this service. For August 2019, Phoenix expects to find renters for 100 apartments with an average first month's rent of $700. Budgeted cost data per tenant application for 2019 follow: Professional labor: 1.5 hours at $20.00 per hour Credit checks: $50.00 Phoenix expects other costs, including the lease payment for the building, secretarial help, and utilities, to be $3,000 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 $9,500 for 400 hours of professional labor. Credit checks went up to $55 per application. Other costs in August 2019 (lease, secretarial help, and utilities) were $3,600. The average first monthly rentals for August 2019 were $800 per apartment unit for 90 units. Required: 1. (a) What is the total operating income variance for August 2019? (b) What is the total flexible-budget 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 flexible-budget 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. | 1a. The total operating income variance 1b. The total flexible-budget variance 10. The sales volume variance 2. Direct labor rate variance Direct labor efficiency variance