Bowery Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $186 per board. This includes 30 pounds of direct materials, at the budgeted price of $2 per pound, and 9 hours of direct manufacturing labor, at the budgeted rate of $14.00 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 4397400 4448000 F U Flexible-budget variance $ 50,600 F Data table Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct labor cost Direct materials efficiency variance There were no beginning inventories. Print Done 5,100 units 170,000 pounds $510,000 40,000 hours $592,000 $1,100 F