2. [5/6 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHE Question 2: Input price and input efficiency variances The budgeted and actual data for direct materials and labor are as follows: Budgeted Actual DM price $2 per pound $1.75 per pound DM quantity per unit 3 pounds per unit 4 pounds per unit DL price $5 per hour $11 per hour Di quantity per unit 0.2 hours per unit 0.3 hours per unit Actual sales volume is 100 units Budgeted sales volume is so units a) Without computations, characterize the following variances as favorable or unfavorables input price variance for DM OF OU rout efficiency variance for OM OF BU Input price variance for DL OF BU Input efficiency variance for DL OF BU b) Compute the input price and Input efficiency variances for DM and DL. As a preminary step, compute actual input quantity (total pounds or hours we actually used) and edible budget inout quantity (total pounds or hours we should have used for actual output) actual input quantity for DM-400 pounds fied ble budgetingut quantity for DM-300 pounds actual input Quavity for DL-30 hours flexible budget input quantity for DL - 20 hours Next, compute the variances. Enter favorable variances as a positive number and unfavorable variances as a negative number. Do NOT enter For U. input price variance for DM-5 X input eficiency wariance for DM - $200 input price variance for DL= $50 input efficiency variance for DLS X Suomi