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2.MATERIALS AND MANUFACTURING LABOR VARIANCESConsider the following data collected for Great Homes, Inc.Direct Materials DirectManufacturing Labor Cost incurred: actual inputs*actual prices $200.000 $90.000Actual inputs *

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2.MATERIALS AND MANUFACTURING LABOR VARIANCESConsider the following data collected for Great Homes, Inc.Direct Materials DirectManufacturing Labor Cost incurred: actual inputs*actual prices $200.000 $90.000Actual inputs * Standard prices 214.000 86.000Standard inputs allowed for aciia1 output * 225.000 80.000Standard pricesRequiredCompute the price, efficiency, and flexible budget variances for direct materials anddirect manufacturing labor

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