Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for

2020:

Expected production and sales	6,500 units
Expected selling price per unit	$715
Total fixed costs	$1,500,000

Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor:

Standard Quantity	Standard Price	Standard Unit Cost
Direct materials	12 pounds	$9 per pound	$108
Direct manufacturing labor	3.8 hours	$30 per hour	$114

During 2020, actual number of units produced and sold was 5,800, at an average selling price of $740. Actual cost of direct materials used was $633,600 (72,000 pounds at $8.80 per pound). Actual direct manufacturing labor costs were $651,700 19,000 actual direct manufacturing labor-hours at $34.30 per hour). Actual fixed costs were $1,220,000.

There were no beginning or ending inventories.

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 (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.)

	Actual
	Results
Output units
Revenues
Direct materials
Direct manufacturing labor
Fixed costs
Total costs
Operating income