Managerial Accounting: E6-3 Alexis King chose to prepare a static budget

Managerial Accounting
E6-3 Preparing a performance report
Alexis King chose to prepare a static budget based on sales of 3,000 canoes. Actual sales were 3,100 canoes at a price of $850 each. The company incurred the following costs for the year:
Direct materials 910,000
Direct labor 435,000
Variable overhead 398,000
Fixed overhead 125,000
Total 1,868,000

Required:
Prepare a performance report for the year that shows the flexible budget and sales volume variances. (If operating income is negative, enter amounts using a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter 0 for the amounts.)

Given in E6-2. The standard variable cost information for a canoe is as follows.
Direct materials 300
Direct labor 150
Variable overhead
Utilities 35
Indirect material 30
Indirect labor 60
Total 575
Annual fixed overhead cost is expected to be:
Maintenance 20,000
Depreciation 40,000
Insurance 37,000
Rent 30,000
Total 127,000
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