Find : 1- Direct Material Price Variance 2- Direct Material Efficiency Variance 3-Direct Material flcible Budget Variance 4-Journal entry

Activity 7-30 Materials and manufacturing labor variances, standard costs. Durn, Inc. is a privately held furniture manufacturer Fee August 2017, Dunn had the following standards for one of its products, a wicker chair Standards per Chair Direct materials 2 square yards of input at $5 per square yard Direct manufacturing labor 05 hour of input at $10 per hour The following data were compiled regarding actual performance actual output units chairs) produced, 2,000 square yards of input purchased and used, 3.700, price per square yard, 56.10, direct manufacturing labor costs, S8,820, actual hours of input, 900, labor price per hour, 59.80 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor Give a plausible explanation of why each variance occurred. Activity 7-30 Materials and manufacturing labor variances, standard costs. Durn, Inc. is a privately held furniture manufacturer Fee August 2017, Dunn had the following standards for one of its products, a wicker chair Standards per Chair Direct materials 2 square yards of input at $5 per square yard Direct manufacturing labor 05 hour of input at $10 per hour The following data were compiled regarding actual performance actual output units chairs) produced, 2,000 square yards of input purchased and used, 3.700, price per square yard, 56.10, direct manufacturing labor costs, S8,820, actual hours of input, 900, labor price per hour, 59.80 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor Give a plausible explanation of why each variance occurred