8-BI Summary Performance Reports Consider the following data for Robert Campbell Tax Services: . Static budget data: sales, 3,500 clients at $350 each; variable costs, $300 per client; fixed costs, $150,000 . Actual results at actual prices: sales, 3,000 clients at $360 per client; variable costs, $920,000; fixed costs, $159,500 1. Prepare a summary performance report similar to Exhibit 8-6, page 316. 2. Fill in the blanks: Static-budget income Variances Sales-activity variances Flexible-budget variances Actual income $ 8-B2 Material and Labor Variances Consider the following data for Tripp Manufacturing: Direct Material's Direct Labor Actual price per unit of input (Ib and hr) $ 7:50 $ 12.00 Standard price per unit of input $ 7.00 $ 14.00 Standard inputs allowed per unit of output 10 12 Actual units of input 1 16,000 29,000 Actual units of output (product) 14,400 14,400 1. Compute the price, quantity, and flexible-budget variances for direct materials and direct labor. Use U or F to indicate whether the variances are unfavorable or favorable. 2. Prepare a plausible explanation for the performance. 8-B3 Variable-Overhead Variances