3. Solve the task. Describe the solution in detail. Construct a table (if necessary). Draw a conclusion based on the results of the calculations. /16 points/ Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for 200A: Expected production and sales Direct materials Direct manufacturing labor Total fixed costs 6,000 units 72,000 pounds 21,000 hours $1,200,000 Standard quantities, standard prices, and standard unit costs follow for direct materials and direct man- ufacturing labor: Standard Quantity |Standard Price Standard Unit Cost $120 Direct materials Direct manufacturing labor During 200A, actual number of units produced and sold was 5,500. Actual cost of direct materials used was S668,800, based on 70,400 pounds purchased at $9.50 per pound. Direct manufacturing labor- hours actually used were 18,500, at the rate of $51.50 per hour. As a result, actual direct manufacturing labor costs were $952,750. Actual fixed costs were $1,180,000. There MGKE no beginning or ending 12 pounds $10 per pound | 3.5 hours $50 per hour $175 inventories. 1. Prepare a flexible budget for that level of activity. 2. Provide variance analysis, sales volume variance and flexible budget variance.

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