[2/6 Points) DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR 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 perunt 3 pounds per un 4 pounds per unit DL price $8 per hour $11 per hour DL quantity per unit 0.2 hours per unit 0.3 hours per unit Actual sales volume is 100 units Budgeted sales volume is 80 units a) Without computations, characterize the following variances as favorable or unfavorable Input price variance for DM OF OU input liceny variance for DM OF BU Inout price variance for DL OF BU ingut efficiency variance for DL OF BU b) Compute the input price and Input efficiency variances for DM and DL. As a preliminary ep, compute actual input anty (total pounds or hours we actually used and exe budgetingut quantity (total pounds or hours we should have used for actual output): actual input quantity for DM pounds flexible budget input Quantity for DM pounds actual out Quantity for DL hours flexible budget input wantity for Text, compute the variances. Inter favorable variances as a positive number and unfavorable variances as a regitive number, Do NOT enter For U. input price variance for DMS input efficiency variance for DM = 5 input price variance for DLS input efficiency variance for DLS