Consider the following data collected for Great Homes Inc.: Requirement Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labour. Requirement. Compute the price, efficiency, and flexible-budget variances for direct materials. Label each variance as favourable (F) or unfavourable (U). Price variance Efficiency variance Flexible-budget variance Compute the price, efficiency, and flexible-budget variances for direct manufacturing labour. Label each variance as favourable (F) or unfavourable (U). Price variance Efficiency variance Flexible-budget variance