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Data table Because of the nature of the wood, workers must work around flaws in the materials. Mike does not store inventory, and buys the wood as he receives an order. Actual and standard data for the construction department for September 2020 are shown below: Requirements 1. For the construction department, calculate the price and efficiency variances for the wood and the price and efficiency variances for direct manufacturing labor. 2. Record the journal entries for the variances incurred. 3. Discuss logical explanations for the combination of variances that the construction department of Institute Corn Hole experienced. Insthte Com Hole is a small bushess that Mike Mercado develoged while in college. He began building wooden com hole game sets for friends, hand paintad wth college colars and ilogos. As damand gow, he hirod some workers and bogan to manage the operation, Insttute Corn tiole maintwins wooden departmerts: construction and painthing. In the construction deparment, workers ise wood to make the game sets. Institife Com Hole has some employees who have been with the company for a very long time and others whe are new and hoxperienced. Hequirement 1. For the construction separtment, calculale the price and eficiency variances for the wood and the price and effoiency vanances for diract manuacturing iabor flogh by calculating the price and efliciency variances for the wood. (Do not found ary intermediay oomputations, Erier the amount of the variance, thes select aheither it is firionitle (F) or untavorabie (U).)