Requirement $1.$ Calculate the sales$-$volume variance and flexible$-$budget variance for operating income.

Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable $($F$)$ or unfavorable $(U).($For variances with a $$0$ balance, make sure to enter $"0"$ in the appropriate field. If the variance is zero, do not select a label.$)$

Actual

Results

Output units

Revenues

Direct materials

Direct manufacturing labor

Fixed costs

Total costs

Operating income