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Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the folowing standard cost card for each dog bath given: Standard Quantity 14 oz $0.40 per oz 12 gal. $0.04 per gal 0.9 hr $9.00 per hr Standard Unit Cost $0.56 Standard Rate Shampoo Water Direct labor 048 8.10 During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756) Required: 1. Caloulate Suds& Cuts direct materials variances for both shampoo and water for the month of July. (Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U for unfavorable.) Shampoo Water Direct Material Price Variance Direct Material Quantity Variance Calculate Suds & Cuts direct labor variances for the month of July. (In Direct Labor Rate Variance Direct Labor Efficiency Variance Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepa Standard Standard Unit Cost 0.56 Quantity 1.4 oz. $0.40 per oz. 12 gal. $0.04 per gal. 0.9 hr. $9.00 per hr. Standard Rate Shampoo Water 0.48 Direct labor 8.10 During the month of July, Collin's employees gave 320 baths. The actual results $2,756). Required: Required: Complete the table by preparing Olive's flexible budget for 5,700, 7,700, and 8,700 units. (Round your intermediate calculations to 2 decimal places.) Master Budget Flexible Budget Flexible Budget Flexible Budget (6,700 Units) (7,700 Units) (5,700 Units) (8,700 Units) 1,340 Direct materials Direct labor 3,350 Variable manufacturing overhead 2,010 Fixed manufacturing overhead 18,300 Total manufacturing cost S 25,000

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