Using the following information, calculate the Budget Variance. Please enter a positive number for the variance. You will not be able to indicate whether the variance is favorable or unfavorable in you answer. Budgeted Direct Materials (6 lbs @ $2/lb) Actual Direct Materials Used Actual Units Actual Cost of Direct Materials Used Budgeted Direct Labor (2 hours @ $13/hour Actual Direct Labor Hours Actual Cost of Direct Labor Budgeted Units Budgeted Selling Price Actual Selling Price $12 per unit 243,000 lbs 40,000 units $500,580 $26 per unit 81,500 hours $1,100,250 35,000 $50 $45 . Harvey Co. sells pencils, and information relating to Year 1 is below. the company produced 1,000,000 units, which is normal production for Harvey the company sold 750,000 units production of each pencil costs $0.03; $0.02 are fixed manufacturing costs and $0.01 are variable manufacturing costs At Year 1 end, the company reported the following income statement according to GAAP (absorption costing): Revenue $75,000 COGS 22,500 Gross Profit 52,500 Fixed Marketing Cost 1,000 Operating Income $51,500 Under Variable Costing, what amount of Fixed Manufacturing Costs would appear on the Income Statement