Standard costs based on 27, 000 units output Per unit of Quantity to be output used Total Cost Direct materials, 4 oz @ $0.31 per ounce $ 1.24 100000 02 $ 33,480.00 hour Direct labor, 0.25 hour @ $6 per $ 1.50 6750 hours $ 40,500.00 Overhead $ 26,500.00 Required 1. Prepare June flexible budgets showing expected sales, costs, and net income assuming 20,000, 25,000, and 30,000 units of output produced and sold. Prepare a exible budget performance report that compares actual results with the amounts budgeted if the actual volume had been expected. Apply variance analysis for direct materials and direct labor. Compute the total overhead variance, and the controllable and volume variances. Compute spending and efficiency variances for overhead. Prepare journal entries to record standard costs, and price and quantity variances, for direct materials, direct labor, and factory overhead