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Meso Fa reavirentits. overthead cost. varizile bethsad eff ciency, fxed oythead cost, and fred overtead volume vakances. Pound as the nescest dollar, Data table Requirements 1. Prepare a flexible budget based on the actual number of recliners sold. 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Root's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Root's managers can benefit from the standard costing system. Requirement 1. Prepare an flemble budget based on the actual number of recin Requirement 2. Compute the cost variance and the efficiency variance for dire overhead cost, variable overhead efficiency, foxed overhead cost, and fixed ove Begin with the cost variances. Select the required formulas, compute the cost v favorable (F) or unfavorable (U). (Round your answers to the nearest whole do overthead; SC= standard cost: SO = standard quantity.) The company's performance feport includes the following beiected data: (cick the icon th view the selected data.) Read the