Muse use the tabular format

1,000 units 980 units Budgeted production Actual production Materials: Standard price per pound Standard pounds per completed unit Actual pounds purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs $2.00 12 11,800 $23,000 $14.00 per hour 4.5 4,560 $62,928 Compute the direct materials price and quantity variances for Taylor Company. Also, compute the direct labor rate and efficiency variances for Taylor Company. Must use tabular formats for both variance models. Failure to do so will be an