Consider the following data collected for Great 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. - X Data table Costs incurred: Actual inputs x actual prices Actual inputs x standard prices Standard inputs allowed for actual output x standard prices Direct Materials $ 214,000 219,000 229,000 Direct Manufacturing Labor $ 94,000 93,000 80,000 Print Done 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 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