Proctor Cleaning Products manufactures a product using a process that allows for substitution between two materials, X1 and Y7. The company has the following direct materials data for its product: The following results were reported for January: Proctor has a policy of holding no inventories of any kind. Required: a. Compute materials price and efficiency variances. b. Compute materials mix and yield variances. Complete this question by entering your answers in t Compute materials price and efficiency variances. Note: Do not round intermediate calculations. Indicate the variance by selecting "F" for favorable, or "U" for unfavorab effect, do not select either option. Proctor Cleaning Products manufactures a product using a process that allows for substitution between two materials, X1 and Y7. The company has the following direct materials data for its product: The following results were reported for January: Proctor has a policy of holding no inventories of any kind. Required: a. Compute materials price and efficiency variances. b. Compute materials mix and yield variances. Complete this question by entering your answers in t Compute materials mix and yield variances. Note: Do not round intermediate calculations. Indicate the variance by selecting "F" for favorable, or "U" for unfavorab effect, do not select either option