Consider the following data collected for Durable Homes, Inc.: (Click the icon to view the data...

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Consider the following data collected for Durable 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. First compute the price, efficiency, and flexible-budget variances for direct materials. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance 3000 Data table Costs incurred: Actual inputs x actual prices Actual inputs x standard prices Standard inputs allowed for actual output x standard prices Direct Manufacturing Direct Materials Labor $ 210,000 $ 93,000 213,000 87,000 221,000 81,000 Print Done Consider the following data collected for Durable 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. First compute the price, efficiency, and flexible-budget variances for direct materials. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance 3000 Data table Costs incurred: Actual inputs x actual prices Actual inputs x standard prices Standard inputs allowed for actual output x standard prices Direct Manufacturing Direct Materials Labor $ 210,000 $ 93,000 213,000 87,000 221,000 81,000 Print Done