(F) Standards put e Direct materials (resin). Direct labor....... 11 pounds per pot at a cost of $3.00 per ..pound 2.0 hours at a cost of $18.00 per hour Standard variable manufacturing overhead rate..... $2.00 per direct labor hour Budgeted fixed manufacturing overhead.. Standard fixed MOH rate.. $48,000 $13.00 per direct labor hour (DLH) Print Done to Actual results FlowerMate allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 2,000 flower pots: Direct materials.... Direct labor...... Actual variable manufacturing overhead. Purchased 23,700 pounds at a cost of $3.50 per pound; .. used 23,000 pounds to produce 2,000 pots Worked 2.5 hours per flower pot (5,000 total DLH) at a .cost of $15.00 per hour $2.70 per direct labor hour for total actual variable ... manufacturing overhead of $13,500 Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production. $47,600 $52,000 Print Done - Requirement 1. Compute the direct material price variance and the direct material quantity variance (Enter the variances as positive numbers Enter cumency amounts in the formula to the nearest cant and then round the final varianca antum to the nearest whole dollar Label the venance as favorable (F) or unfavorable (U) Abbreviations used DM Drect materials) First determine the formula for the price variance, then compute the price vtance for died malena Sand Ac price DM price va