Sheridan was closing up shop for the season and for the fiscal year-end, as well. Managers had carefully evaluated the company's performance, comparing the actual results to budget. They even dug a little deeper into the flexible budget variances to determine the respective price and efficiency (or volume) variances. The following shows the framework used to determine these variancesalthough you'll notice that they neglected to label the differences. (a) For each resource, calculate and label the differences between actual cost and the unnamed middle comparison point, as well as the differences between the unnamed middle comparison point and the flexible budget. Be sure to specify the name, amount, and sign of these variances