The following standard costing data, per unit, are for Black Ltd. for January 65 kilograms at $5.5 per kilogram 10 hours at $19.5 per hour 10 hours at $6.5 per hour $75 Direct materials Direct labour Variable overhead Fixed overhead For January, Black's flexible budget volume of output was 840 units. Budgeted (planned) output was 870 units. Direct materials purchased and used were $2,900 kilograms at a total cost of $296.240. Direct labour used was 9.410 hours et $18.7 par hoor Variable overhead cost was $54,230. Actual fixed overhead cost was $66,350. Foxed overhead cost is applied using direct labour-hours. The normal volume is the same as the planned volume for January Required: 1. Prepare the static and flexible budgets and show the variances by completing the table given below. (Round "Direct materials price" and "Direct labour rote" answers to 2 decimal places.) Direct materials price Direct materials quantity Direct labour cate Drect labour efficiency Variabler overhead spending (rate) Variable overhead efficiency Foed overhead Actual cost AR per DLH houts Badged anot # SR $ KO per DLH DM OLIE H Planned amma N₂ Check my work ag ME Budgeted (planned) output was 870 units. Direct materials 40. Direct labour used was 9,410 hours at $18.7 per hour. Variable Fixed overhead cost is applied using direct labour-hours, The completing the table given below. (Round "Direct materials H hours Budgeted amount $ SR kg per DLH 7 per DLH units Planned volume AQ kg hours hours kg hours hours hours SQ units units units units 2. Calculate the direct labour flexible budget variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Labour rate variance Labour efficiency variance 3. Calculate the direct materials variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Materials price variance Materials quantity variance 4. Compute the variable overhead variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Spending variance Efficiency variance Total variable overhead variance 5. Compute the fixed overhead variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance Total fixed overhead variance