Trek manufactures bicycles it plans to sell for $800.cach. The bicycles require 10 lbs of aluminum each (which is the only direct material), and Trek budgets to purchase each pound of aluminum for $10/lb. The bicycles require 2 hours of labor, which Trek believes it will acquire for $25/hour. The company plans to sell 50,000 bicycles this year. Actual performance was a bit different than planned. Trek actually ended up selling 45,000 bicycles for $600 each. Additionally, the company actually spent a total of $5,000,000 in direct materials for 500,000 pounds of aluminum. Trek actually spent $2,050,000 on direct labor, and Trek had to pay $20/hour. Actual Flex Budget Units SP 45,000 45,000 50,000 600 800 Revenue 27,000,000 36000,000 40,000,000 Direct Materials 5,000,000 4500000 5,000,000 Direct Labor 2,050,000 2,250,000 2,500,000 Op Income 19,950,000. 29,250,000 32,500,000 Budget Variance = Flex Budget Variance= 9300,000 Sales Volume Variance = (45,000 - 50,000) x 800 = $4,000,000 un Selling Price Variance= Cap-bp)xa.unit sales Direct Materials Variance = 45,000x5-45,000 Direct Materials Price Variance= Direct Materials Efficiency Variance = = 9,000,000 Unfavorable (Actual hous-standard hours) x stand. rate = 2,050,000- Direct Labor Variance = Direct Labor Price Variance = Cap-sip) xachal Q = 5,000,000x Direct Labor Efficiency Variance =