BASE DATA: Budgeted (Std) Quantity of Direct Materials for Production 960

Budgeted (Std) Price of Direct Materials per Pound $1,955.00

Budgeted (Std) Quantity of Direct Labor Hours Used for Production 829

Budgeted (Std) Price of Direct Labor per Hour $849.00

Budgeted (std) Units Produced and Sold 19,121

Actual Quantity of Direct Materials Used for Production 944

Actual Price of Direct Materials per Pound $1,812.00

Actual Quantity of Direct Labor Hours Used for Production 832

Actual Price of Direct Labor per Hour $852.00

Note:It takes one unit of direct materials to make one production unit.

WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT:

QUESTION ONE

What is the Direct Manufacturing Labor Price Variance?

Record answer in dollars and cents here

Record whether above answer is "favorable" or "unfavorable here

QUESTION 2 What is the Direct Manufacturing Material Price Variance?

Record answer in dollars and cents here

Record whether above answer is "favorable" or "unfavorable here

QUESTION 3 What is the Direct Manufacturing Labor Efficiency Variance?

Record answer in dollars and cents

Record whether above answer is "favorable" or "unfavorable here

mention formula too.