Consider the following data regarding the manufacture of a line of tables: 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? what is the material flexible budget variance (FBV)? Question 2 What is the material price variance? Question 3 what is the material efficiency variance? Question 4 what is the labor efficiency variance? what is the labor flexible budget variance? Question 6 1 pts what is the labor rate variance? Question 7 1 pts For the labor, what data should the production manager monitor daily based on the results of the computation of the variances labor rate labor hours Question 8 1. pts For the material, what data should the production manager monitor daily based on the results of the computation of the variances fiaterial price materal input