Consider the following data collected for Superior 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 $ 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 i Data Table Costs incurred: Actual inputs x actual prices Actual inputs x standard prices Standard inputs allowed for actual output x standard prices Direct Direct - Materials Manufacturing Labor $ 210,000 $ 94,000 213,000 88,000 Print Done 215,000 86,000