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3. (20 pts) Consider the following data for a construction company: Direet Materials Direet Labor $7.90/1b $7.50/1b Actual price per unit of input Standard price

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3. (20 pts) Consider the following data for a construction company: Direet Materials Direet Labor $7.90/1b $7.50/1b Actual price per unit of input Standard price per unit of input 13.55/hr 2 hr 1o lb 125,0001b 14.400 Standard input allowed per unit of output Actual units of input 35,000hr 14,400 Actual units of output (product) produced Compute the price, quantity, and flexible-budget variances for: a) Direct materials. b Direct labor

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