Smith Rediners manufactures leather recliners and uses flexible budgeting and a standard cost system Smith allocates overhead based on yards of direct materials. The company's performance report includes the following selected dat (Click the icon to view the selected data) Read the quests Requirement 1. Prepare a Sexible budget based on the actual number of rediners sold Smith Hackers Flexible get Dodge Amounts per Unit Actual Units (Red Sales Revenue Vatable Manufacturing Costs Direct Materials Die La Variable Overhead Fed Mandaring Costs Fixed Overhead Total Cost of Good Gries Prot Requirement 2. Compute the col variance and the ficiency valance for det ma to the earent do Dag th the cant variances Select the red foulas compute cot A F Dict material c Ded faber col velence Data table Static Budget 11.000 Actuel Results 1980 recliners) Sales (1000x5505 $ 505.000 (960s $455 $ 415.100 Vetle Manufaching Cast Direct Materials 0001 143 y 150/6) /yd) 52.200 52216 Deter (13.000 DUH $11.307) (600 114) 109440 Vanate Overhead 6000 1500y) 30.000 338 Feed O TC Goo Pr Done 6000 31