3. (25%) Animent Industries, Inc. (AII), developed standard costs for direct material and direct labor. In 2015, AII estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price $60 per pound 0.05 hours $30 per hour Direct materials0.10 pounds Direct labor During June, All produced and sold 20,000 containers using 1,900 pounds of direct materials at an average cost per pound of $64 and 1,000 direct manufacturing labor-hours at an average wage of $30.50 per hour. Required: a. Compute the direct materials price and efficiency variances for the month. b. Prepare the journal entries for direct material (purchase and use) identifying the variances upon usage. c. Compute the direct manufacturing labor price and efficiency variances for the month. d. Prepare the journal entries for direct labor