Ballona Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $213 per board. This includes 35 pounds of direct materials, at the budgeted price of $2 per pound and 11 hours of direct manufacturing labor, at the budgeted rate of $13.00 per hour. Following are additional data for the month of July 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 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 5,600 units Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct labor cost 230,000 pounds 736,000 45.000 hours 643,500 1.100 F Direct materials efficiency variance $ There were no beginning inventories