4. (20 pts) Consider the following data for a manufacturing com Direct Direet Materials Labor $7.80/1b 12.00/hr $7.00/1b 12.75/hr Actual price per unit of input Standard price per unit of input Standard input allowed per unit of product Actual units of input Budgeted units of product to be made 10 lb 2 hr 115,000b 30,000hr 14400 14,400 Compute the price, quantity, and flexible-budget variances for: a) Direct materials. b) Direct labor. 5. (20 pts.) Diamond Company has the following sales budget for the last six months of 2017 Jul August September October $100,000 80,000 110,000 90,000 100,000 94,000 November December Historically, the cash collection of sales has been as follows: 65% ofsales collected in month of sale 25% of sales collected in month following sale 8% of sales collected in second month following sale 2% ofsales uncollectible hat is the expected cash collection from sales in October