Question 2: Input price and input efficiency variances The budgeted and actual data for direct materials and labor are as follows: Budgeted Actual $1.75 per pound DM price $2 per pound DM quantity per unit 3 pounds per unit 4 pounds per unit DL price $10 per hour DL quantity per unit 0.2 hours per unit $13 per hour 0.3 hours per unit Actual sales volume is 100 units. Budgeted sales volume is 80 units. a) Without computations, characterize the following variances as favorable or unfavorable: input price variance for DM OF OU input efficiency variance for DM OF OU input price variance for DL OF OU input efficiency variance for DL OF OU