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Tempo Companys fixed budget (based on sales of 16,000 unlts) for the first quarter of calendar year 2017 reveals the following. Fixed Budget ales (16,000 units) Cost of goods sold $3,376, 000 $384,000 704,000 432,000 184, 000 Direct materials Direct labor Plant nanager salary Gross profit 1,704,000 1, 612,000 Sales coumissions 112,000 256, 000 100,000 Advertising 468,000 ninistrative salaries 234,000 204,000 174, 000 184,000 Depreciation-office equip 796,000 $ 40B,000 Office rent Income fron operations Complete the following flexlble budgets for sales volumes of 14,000,16,000, and 18,000 unlts. (Round cost per unit to 2 decimal places.)Complete the following flexible budgets for sales volumes of 14,000. 16,000, and 18.000 unlts. Round cost per unit to 2 decimal places.) TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 Flexible Budget_ Variable Total Fixed 14,000 Flexible Budget at Amount per Cost units 18,000 units18,000 Unit Variable costsActual direct materi교I used Actual direct labor used Actual units produced 26,000 lbs. at $4.70 per 1b 9,250 hours for 교 total of $185,000 54,000 Budgeted standards for each unit produced are 0.50 pounds of direct materlal at $4.65 per pound and 10 minutes of direct labor at $21.00 per hour. AQ-Actual Quantity SQ Standard Quantity AP = Actual Price SP = Standard Price AH Actual Hours SH Standard Hours AR = Actual Rate SR = Standard Rate (1) Compute the direct materlals price and quantity varlances. (2) Compute the direct labor rate and efficlency varlances. Indicate whether each varlance Is favorable or unfavorable Complete this question by entering your answers in the tabs below. Required 1Required 2 Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Actual Cost Standard Cost 2 of 2 Next

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