1.	Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2017. What is the total flexiblebudget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget?
2.	Comment on the May 2017 results. Would you continue the "experiment" of using the new material?

Betty Ann, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Betty Ann's May 2017 static budget and actual results for direct inputs are as follows: ?(Click the icon to view additional information.) ?(click the icon to view the data ) Read the requirements Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2017. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2017. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent Actual Input Qty x Budgeted Price Actual Price i Data Table May 2017 Units Direct materials Direct labor Total variance Results Variance Static Budget Number of jacket lots (1 lot 1 dozen) 500 Per Lot of Jackets: Direct materials Direct manufacturing labor Actual Results Number of jacket lots sold Total Direct Inputs Direct materials Direct manufacturing labor 11 yards at $1.40 per yard-$15.40 2.4 hours at $8.20 per hour $19.68 525 6,825 yards at $1.60 per yard $10,920.00 1,155 hours at $8.30 per hour- $9,586.50 Choose from any list or enter any number in the input fields and then click Check