Consider tho folowing data: (Click the icon to view the data.) Requirement 1. Compute the price, quantity, and flexible-budget variances for direct materiais and direct labor. Use U or F to indicate whether the variances are unfavorable or favorable Begin by computing the price variance for direct materials. First enter the formula, then compute the variance. Be sure to label the variance as favorable or unfavorable. (Enter the variances as a positive number. Abbreviations used: Act- Actual; Std.-Standard: Bgt-Budget Oty-Quanity s Price variance Compute the quantity variance for direct materials. Be sure to label the variance as favorable or unfavorable. Oty variance Compute the flexible budget variance for direct materials. Be sure to label the variance as favorable or unfavorable Flexible Bgt. variance Compute the price variance for direct labor. First enter the formula, then compute the variance. Be sure to label the variance as favorable or unfavorable (10) s Price variance Compute the quantity variance for direct labor. Be sure to label the variance as favorable or unfavorable Compute the flexible budget variance for direct labor. Be sure to label the variance as favorable or unfavorable Fiexible Bgt. variance 1: Data Table Direct Materials Direct Laber Costs incurred: actual inputs x actual prices incurred Actual Inputs x expected prices Standard inputs allowed for actual outputs 132,300 $ 123.480 91,200 95,000 achieved x expected prices 126,000 91 250 (3) 0 O Actual inputs x actual prices incurred O Actual inputs x actual prices incurred Actual inputs x expectedprices O Std inputs for act. outputs x expected prices Actual inputs x expected prices O F O Std. inputs for act outputs x expected prices (4) O Actual inputs x actual prices incurred O Actual inputs x expected prices O Std. inputs for act outputs x expected prices O Actual inputs x actual prices incurred O Actual inputs x expected prices O u O Std. inputs for act. outputs x expected prices (8) O O Actual inputs x actual prices incurred Actual inputs xexpectedprces O Std. inputs for act outputs x expected prices O Std. inputs for act, outputs x expected prices O Actual inputs x actual prices incurred O Actual inputs x expected prices O u O F