Tasks to be completed before next management meeting. Lulu is required to re-submit a flexible- budget and variance analysis for the month of April. Write a brief comment or explain each of the variances. Some of the information provided in the Appendix can be used for the report.

Lulu is asked to finish the following tasks for April.

1. Static-budget variance for operating income.

2. Prepare a flexible budget for operating income

3. Flexible budget variance analysis

4. Sales-volume variance for operating income

5. Price and usage variances for direct materials

6. Price and efficiency variances for direct manufacturing labour.

7. Variable manufacturing overhead spending variance

8. Variable manufacturing overhead efficiency variance

9. Fixed manufacturing overhead spending variance

Including the 4-year loan interest United International Corporation Balance Sheet 30 April 2023 (projected) Long Term Assets Equipment (net) Other fixed assets $3,392,01327,0003,419,013 Short Term Assets Inventory Receivables Cash and cash equivalents Total Assets Long Term Liabilities Bank loans (a) 300,000 Short Term Liabilities Bank loans (short term portion) 100,000 Trade payables 299,520 Deposits received from customers Other payables 651,057108,000 Total Liabilities Total Net Assets 4,035,480 Represented by Equity Retained earnings Total equity \& Retained earnings 735,4804,035,480 Note: (a) It is a 4-year instalment bank loan at 10% p.a. Including the 4-year loan interest United International Corporation Balance Sheet 30 April 2023 (projected) Long Term Assets Equipment (net) Other fixed assets $3,392,01327,0003,419,013 Short Term Assets Inventory Receivables Cash and cash equivalents Total Assets Long Term Liabilities Bank loans (a) 300,000 Short Term Liabilities Bank loans (short term portion) 100,000 Trade payables 299,520 Deposits received from customers Other payables 651,057108,000 Total Liabilities Total Net Assets 4,035,480 Represented by Equity Retained earnings Total equity \& Retained earnings 735,4804,035,480 Note: (a) It is a 4-year instalment bank loan at 10% p.a