Consider the following data collected for Classic Homes, Inc.: (Click the icon to view the data table.) Requirement Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. Price variance Efficiency variance Flexible-budget variance Now compute the price, efficiency, and flexible-budget variances for direct manufacturing labor. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Data table Costs incurred: Actual inputs * actual prices Actual inputs standard prices Standard inputs allowed for actual output * standard prices Direct Manufacturing Direct Materials Labor $ 208,000 $ 92,000 205,000 89,000 200,000 81,000 Print Done