Tyler is the controller of Fisher Industries. After careful review of the budgeted income statements, and after discussions with the sales and production managers, Tyler determined that the best alternative is to base the master budget on a sales volume of 30,000 units and a sales price of $62 per unit. At the end of the year, the company had the following income statement, which was based on 28,000 actual units. Requirement A: Complete the Flexible Budget in the table below and identify if the flexible budget variance is favorable or unfavorable. FLEXIBLE ACTUAL BUDGET MASTER DESCRIPTION 28,000 FLEXIBLE BUDGET VARIANCE BUDGET UNITS FORU 30,000 UNITS Sales 1,764,000 1,860,000 Direct Materials 504,000 510,000 Direct Labor 434,000 450,000 Variable 509,600 540,000 Overhead Fixed Overhead 64,200 90,000 Rent 45,800 45,000 Insurance 29,100 45,000 Advertising 14,500 15,000 Operating Income 162,800 165,000 Requirement B: If the direct materials purchased is $200 per unit while the standard price for direct materials is $180, and the total direct material used is 1,000 units while the standard direct materials allowed for actual production is 980 units, 1) identify if the variances below will be favorable or unfavorable and 2) what might be a cause for these variances Direct Material Price Variance Direct Material Quantity Variance