Consider the following data collected for Great Homes, Inc.:

$($Click the icon to view the data table.$)$

Requirement

Compute the price, efficiency, and flexible$-$budget variances for direct materials and direct manufacturing labor.

First compute the price, efficiency, and flexible$-$budget variances for direct materials. Label each variance as favorable $($F$)$ or unfavorable $($U$).$

Now compute the price, efficiency, and flexible$-$budget variances for direct manufacturing labor. Label each variance as favorable $($F$)$ or unfavorable $($U$).$

Data table