Sunshine Foods manufactures pumpkin scones. For January 2020, it budgeted to purchase and use 14,750 pounds of pumpkin at $0.92 a pound. Actual purchases and usage for January 2020 were 16,000 pounds at $0.85 a pound. Sunshine budgeted for 59,000 pumpkin scones. Actual output was 59,200 pumpkin scones.

Requirement 1. Compute the flexble-budget varlance. Let's begin by detemining the formula used to caiculate the actual pumplin costs, then enter the amounts in the formula snc calculate the coet. Now datermine the formule and calculate the pumgkin costs thet will be found in the static budget column of your analysis. *=Staticbudgetpumpkincosts= Deternine the formula and calculate the purpkin costs for the fexible budget. \{Round your answer to the nearest whole doller.) w=Fexiblebudgelpumpkincosts= Naw enter the ambunts iabove into the anialysis and devermine the flexible-budget viaiaance. Round your ansasers ta the neisrest whole bollar. Label Requirement 2. Campute the prite and efficiency variaritess. Begin by completing the folowing table. (Round your answer to the nearest whole dolar. Abbreviation used: Cty = quantity) The price verience is Label the variance as favorable (F) or unfavorable (U).) The etticlency varianoe is Requirement 3. Carmirent an the results for requiremerits 1 and 2 artd provide a possible explariatian for them. The price variance reflects the 6ctual purchase cost being the budseted purchese cost per pound. The efficiency variznce reflerts the achual matrrials yield being the burggetrd yieid. The ecmpany used zumpkins ifmaterials) bo make the sconies than was budgeled. One explanation may be that Sunshine purchased quality pumpkins at a cost per pound