Sunshine Foods manufactures pumpkin scones. For January 2017, it budgeted to purchase and use 14,750 pounds of pumpkin at 50.92 a pound. Actual purchases and usage for January 2017 were 16,000 pounds at $0 85 a pound. Sunshine budgeted for 59,000 pumpkin scones. Actual output was 59,200 pumpkin scones. Read the requirements Requirement 1. Compute the flexible-budget variance. Requirement 1. Compute the flexible-budget variance. Let's begin by determining the formula used to calculate the actual pumpkin costs, then enter the amounts in the formula and calculate the cost. - Actual pumpkin costs Actual cost per pound Actual input Budgeted cost per pound Budgeted input Budgeted input for actual output 1. Compute the flexible-budget variance. 2. Compute the price and efficiency variances 3. Comment on the results for requirements 1 and 2 and provide a possible explanation for them