12 BASE DATA: (one unit take one pound of materials) 13 14 Budgeted (Std) Quantity of Direct Materials for Production 15 960 1,955.00 829 849.00 27,558 16 Budgeted (Std) Price of Direct Materials per Pound 17 Budgeted (Std) Quantity of Direct Labor Hours Used for Production 19 20 Budgeted (Std) Price of Direct Labor per Hour 21 22 Budgeted(Std) Units Produced and Sold 23 24 Actual Quantity of Direct Materials Used for Production 25 944 26 Actual Price of Direct Materials per Pound 1,812.00 27 28 Actual Quantity of Direct Labor Hours Used for Production 29 30 Actual Price of Direct Labor per Hour 31 32 832 852.00 33 Note: It takes one unit of direct materials to make one production unit 34 35 WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT 36 37 QUESTION ONE 38 What is the Direct Manufacturing Labor Price Variance? 39 Record answer in dollars and cents here 40 Record whether above answer is "favorable" or "unfavorable here 41 42 QUESTION 2 43 What is the Direct Manufacturing Material Price Variance? 44 Record answer in dollars and cents here 45 Record whether above answer is "favorable" or "unfavorable here 46 47 QUESTION 3 48 What is the Direct Manufacturing Labor Efficiency Variance? 49 Record answer in dollars and cents 50 Record whether above answer is "favorable" or "unfavorable here 51