Genoa 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 2017:

Expected production and sales 6,300 units
Total fixed costs $1,350,000

Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor:

Standard Quantity Standard Price Standard Unit Cost
Direct Materials 14 pounds $12 per pound $168
Direct manufacturing labor 3.1 hours $40 per hour $124

During 2017, an actual number of units produced and sold was 4,800. The actual cost of direct materials used was $813,750, based on 62,500 pounds purchased at $13.02 per pound. Direct manufacturing labor-hours actually used were 17,500 at the rate of $33.48 per hour. As a result, actual direct manufacturing labor costs were $585,900. Actual fixed costs were $1,160,000. There were no beginnings or ending inventories.
Requirement:
Calculate the sales-volume variance and flexible-budget variance for operating income. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.)