Consider the following data regarding the manufacture of a line of tables: Direct Materials Direct Labor Actual price per unit of input (board feet and hours) $14 $9 Standard price per unit of input $12 $10 Standard inputs allowed per unit of output 5 2 Actual units of input 48,000 22,000 Actual units of output (product) 10,000 10,000 Required: (a) Compute for the price, efficiency, and flexible-budget variances for direct materials and direct labor. Use U or F to indicate whether the variances are unfavorable or favorable. (b) What type of data would the production manager probably watch most closely on a day-to-day basis?