Requirements 1. Calculate the sales-volume variance and flexible-budget variance for operating income. 2. Compute price and efficiency variances for direct materials and direct manufacturing labor. Data table During 2020, actual number of units produced and sold was 5,100, at an average selling price of $710. Actual cost of direct materials used was $1,149,400 ( 70,000 pounds at $16.42 per pound). Actual direct manufacturing labor costs were $572,900 (17,000 actual direct manufacturing labor-hours at $33.70 per hour). Actual fixed costs were $1,190,000. There were no beginning or ending inventories. Requirement 2. Compule prive and efficiency variances for diesil insterials and direct narnufasturing labor. Compute the prica enc efflclency varlances for direct materlals. Labal eech valence as faworable [F] or unfavorabie (U)