Ting Company's production performance report for April includes the information shown below Click the icon to view the production performance report) Requirement Prepare a flexible budget for the items shown and compute the flexible budget cost variances and planning cost variances for each tem. Indicate whether the variances are evorative or unfavorate for each te Begin with the master budget, then complete the flexible budget columns and the actual results columns. Label each vaga the variance is zero, do not select a label Round interim calculations to the nearest cent) Master Budget Planning Vanance Flexible Budget Flexible Budget Variance Actu Unite Direct materials Direct labor Fixed manufacturing support To Data table ACTUAL MASTER BUDGET 70,000 81.000 Volume Manufacturing costs Direct material $ 470,000 $ 567.000 Direct labor 195.300 430.000 222.750 450.000 Faxed manufacturing support Total $ 1,101,300 1230.750 Print Done