15. (15 points) Portland Inc. (PI) has developed standard costs for direct materials and direct labor. For the current year Pl estimated the following costs for one of their major products, the P122: Direct Materials Direct Labor Units Standard Quantity 0.25 pounds per unit Standard Price $25 per pound $15 per hour 0.70 hours per unit 30,000 PI's actual results for the year were production and sales of 33,500 units using 8,100 pounds of direct materials for a total material cost of $216,675 and direct manufacturing labor cost was $13 per hour for a total direct labor cost of $341,250. a. Calculate a full analysis of the direct materials price, efficiency, and flexible budget variances. b. Calculate a full analysis of the direct labor price, efficiency, and flexible budget variances. C. Comment on possible causes of the direct labor price and efficiency variances. Focus on causes of the variance NOT repeating financial results from your analysis above.