Ultra, Inc., manufactures a full line of well-known sunglasses frames and lenses. Puckett collected the following information: (Click the icon to view the information.) Assume there are no variable manufacturing overhead costs. The actual variable manufacturing costs in 2014 were as follows: (Click the icon to view the information on Ultra, Inc.) Puckett will be asked to explain the following performance report for 2014: (Click the icon to view the report.) Click the icon to view the actual costs More Info t variance for operating Requirement 1. Prepare a report income, and (c.) direct Ultra uses a standard costing system to set attainable standards for direct materials, labor, and overhead costs. Ultra reviews and revises standards annually as necessary. Department managers, whose evaluations and bonuses are affected by their department's performance, are held responsible to explain variances in their department performance reports. a. Begin by computing the selling favorable (F) or unfavorable (U) Recently, the manufacturing variances in the Delta prestige line of sunglasses have caused some concem. For no apparent reason, unfavorable materials and labor variances have occurred. At the monthly staff meeting, John Puckett, manager of the Delta line, wl be expected to explain his variances and suggest ways of improving performance b. Next, complete the table to fexible budget columns and the enter "0" in the appropriate field. al results, then complete the a $O balance, make sure to t Choose from any list or enter any Print Done Save for Later