i Data Table You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June. : (Click the icon to view the data.) Read the requirements The chocolatier manufactures truffles in 12-piece boxes. The production is labor intensive, and the delicate nature of the chocolate requires a high degree of skill. Requirement 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of May. In order to calculate the variances complete the following table. (Round your final answer to the nearest whole number. Abbreviation used: qty = quantity.) Actual input ty Actual Boxes produced Direct materials used in production Actual direct material cost Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 0 Requirements - X Actual costs incurred 10,000 2,150,000 g 60,200 euro 1,100 12,650 euro Budgeted price Flexible budget Direct materials Direct labor Now compute the variances and label each amount as favorable (F) or unfavorable (U). Please respond to the following questions as if you were in an interview situation: 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June. 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement? The materials efficiency variance is Standards Purchase price of direct materials Materials per box Wage rate Boxes per hour 0.03 euros/g 200 g 12.00 euro/hour The materials price variance is C O Print Done The labor efficiency variance is Print D The labor price variance is C Done Requirement 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement? expensive ingredients of quality, which resulted in than the standard number of rejected units. The labor price variance suggests that experienced workers may have worked more, resuting in a The materials price and efficiency variances could be an indication that the company purchased work pace and a than normal amount of rejects or waste. The company should determine the cause of the rejects. The cause could be Perhaps will help. If rejects are not the problem, employees may be i Data Table You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June. : (Click the icon to view the data.) Read the requirements The chocolatier manufactures truffles in 12-piece boxes. The production is labor intensive, and the delicate nature of the chocolate requires a high degree of skill. Requirement 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of May. In order to calculate the variances complete the following table. (Round your final answer to the nearest whole number. Abbreviation used: qty = quantity.) Actual input ty Actual Boxes produced Direct materials used in production Actual direct material cost Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 0 Requirements - X Actual costs incurred 10,000 2,150,000 g 60,200 euro 1,100 12,650 euro Budgeted price Flexible budget Direct materials Direct labor Now compute the variances and label each amount as favorable (F) or unfavorable (U). Please respond to the following questions as if you were in an interview situation: 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June. 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement? The materials efficiency variance is Standards Purchase price of direct materials Materials per box Wage rate Boxes per hour 0.03 euros/g 200 g 12.00 euro/hour The materials price variance is C O Print Done The labor efficiency variance is Print D The labor price variance is C Done Requirement 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement? expensive ingredients of quality, which resulted in than the standard number of rejected units. The labor price variance suggests that experienced workers may have worked more, resuting in a The materials price and efficiency variances could be an indication that the company purchased work pace and a than normal amount of rejects or waste. The company should determine the cause of the rejects. The cause could be Perhaps will help. If rejects are not the problem, employees may be