Requirement 1. Calculate the sales. volume variance and fexcle-bedgot variance for operating income. Begin with the actual fesuts, then complele the fexible budgot oolumns and the static boifget columns. Label each variance as favorable (F) or unfavorable (U). For variances with u 50 basance Muke sure to enter " 0 in the appropeiate fieid. If the variance is zoro, do not select a label.] make sure to elver "or in the appeopriate field. It the variance is zero, do not select a label) Requirement 2. Compute price and efficiency variances for direct materials and deect manufacturing labce Compute the price and efficiency variances for diect materials. Label each variance as tworable (F) or unfavorable (U). Requitement 1. Caiculate the saies volume variance and fevele.budget varience for operating incone