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Actual cost and operating data from the most recent month are as follows Parson Awning manufactures awnings and uses a standard cost system. The company allocatos overhead based on the number of direct labor hours. TheEE (Click the lcon to view the actual results,) following are the company's cost and standards data ll manufacturing overhead is allocated on the basis of direct labor hours Read the requirements EB(Click the icon to view the standards.) First determine the formula for the price variance, then compute tho price variance for direct matonials Actual ouanity urchc prcrd ric price ane Actual price Standard price DM price variance x ( Determine the formula for the quantity variance, then compute the quantity variance for direct materials. t )DM quanjity variance x ( variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: D First determine the formula for the rate variance, then compute the rate variance for direct labor. DL rate variance x ( First determine the formula for the efficiency variance, then compute the officiency variance for direct labor # DL efficiency variance x ( Choose from any list or enter any number in the input fields and then continue to the next