Ballona Bay Surfboards manufactures fiberglass surboards. The standard cost of direct materials and direct manufacturing labor is $181 per board. This includes 20 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.10 per hour. Following are additional data for the month of July E (Click the icon to view the data.) Read the requirements Requirement 1. Compute direct manufacturing labor variances for July. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Choose from any list or enter any number in the input fields and then click Check Answer ar to) EQ eards manufact s of direct mate additional dat to view the da pr is $181 per budgeted rat Requirements ents. 1. Compute direct manufacturing labor variances for July 2. Compute the actual pounds of direct materials used in production in July 3. Calculate the actual price per pound of direct materials purchased. 4. Calculate the direct materials price variance. ompute direct riance Print Done ist or enter an Clear All Check Ans i Data Table ctu ter ata ata bor is $18 budget e Units completed 5,800 units Direct material purchases 140,000 pounds Cost of direct material purchases t m 462,000 Actual direct manufacturing labor-hours 40,000 hours Actual direct labor cost 568,000 Direct materials efficiency variance 1,700 F There were no beginning inventories. any Print Done Check