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Assignment 5 0-5-10. If Gatsby ends up with a favorable fixed overhead volume variance at the end of 2020, then: 1. A greater volume of its products was produced than was expected. 2. The cost of fixed overhead costs, such as depreciation of the building, was higher than expected. 3. The number of direct labor hours used was less than the amount expected for the actual quantity of products made. 4. Fewer yards of denim were required than expected for the actual number of products produced. 5. Variable manufacturing overhead costs were more than the amount expected. ASSIGNMENT 5 PROBLEMS Enter answers on the Armond Dalton Resources website (www.armonddaltonresources.com), either by typing your answers in the spaces provided online or or by uploading a file. Prepare the following components of a master budget showing each of the designer jean and chairs product lines for 2020. The budgets should all be interrelated. P-5-1. Prepare a sales budget for 2020 showing each product line and total for the company. P-5-2. Prepare a production budget for 2020 showing each product line and total for the company. P-5-3. Prepare a direct materials budget for 2020 showing each product line and total for the company. P-5-4. Prepare a direct labor budget for 2020 showing each product line and total for the company