Consider the following data for Tripp Manufacturing:

1. Compute the price, quantity, and flexible-budget variances for direct materials and direct labor. Use U or F to indicate whether the variances are unfavorable or favorable.
2. Prepare a plausible explanation for theperformance.

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Direct Materials Direct Labor S 12.00 s 14.00 Actual price per unit of input (lb and hr) Standard price per unit of input Standard inputs allowed per unit of output Actual units of input Actual units of output (product) 7.50 S7.00 10 116,000 14.400 29,000 14,400