Amy Dee, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Amy Dee's May 2020 static budget and actual results for direct inputs are as follows: Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) May 2020 Units Direct materials Direct labor Actual Results Price Variance Actual Input Qty * Budgeted Price Efficiency Flexible Variance Budget Data table Static Budget Number of jacket lots (1 lot = 1 dozen) 400 Total variance The total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined is unfavorable. This variance is labor in the flexible budget. Per Lot of Jackets: Direct materials 14 yards at $4.65 per yard = $65.10 % of the total cost of direct materials and direct manufacturing Direct manufacturing labor Actual Results 1.6 hours at $8.50 per hour = $13.60 Number of jacket lots sold Total Direct Inputs: 425 (Round the variance to the nearest cent and the percentage to two decimal places, X.XX%.) Requirement 2. Comment on the May 2020 results. Would you continue the "experiment" of using the new material? A. Efficiencies have improved in the direction indicated by the production manager. Amy Dee should not continue to use the new B. Efficiencies have improved in the direction indicated by the production manager-but, it is unclear whether they are a trend or a quality and feel; but it may want to re-examine the standard material price since the new material costs more than the old. C. Efficiencies have declined although the production manager had indicated they would improve. Although the new material has s Direct materials Direct manufacturing labor 6,800 yards at $4.85 per yard = $32,980.00 595 hours at $8.60 per hour = $5,117.00 Print Done