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 make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Output units Revenues Direct materials Direct manufacturing labor Fixed costs Total costs Operating income Actual Results Flexible-Budget Variance 4,800 $ 3,744,000 $ 192,000 F $ 392,700 $ 878,400 1,230,000 $ 2,501,100 $ $1.242.900 S 412.900 Flexible Budget F 4,800 8,700 U$ 384,000 9,600 F 888,000 220,000 F 1,450,000 220,900 F $2,722.000 $ 830,000 $3,552.000 Sales-Volume Variance Static Budget ent 1. Calcul h the actual re e to enter "0" units ues materials t manufacturing la costs costs rating income Data table Expected production and sales Expected selling price per unit Total fixed costs $ 1,242,900 $ 412,900 Print F $ 830.000 6,500 units $ 740 $1,450,000 Done Read the requirements. - X avorable (F) C ht the to e nits es material manufac costs costs rating inco Data table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price $8 per pound $50 per hour Print During 2020, actual number of units produced and sold was 4,800, at an average selling price of $780. Actual cost of direct materials used was $392,700 (66,000 pounds at $5.95 per pound). Actual direct manufacturing labor costs were $878,400 (18,300 actual direct manufacturing labor-hours at $48.00 per hour). Actual fixed costs were $1,230,000. There were no beginning or ending inventories. Standard Unit Cost $80 $185 Done - X (F) or ur