CoursHeroTranscribedText: You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June. (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of May. - X Data Table In order to calculate the variances complete the following table. (Round your final answer to the nearest whole number. Abbreviation used: qty = quantity.) Actual input qty The chocolatier manufactures truffles in 12-piece boxes. The production Actual costs is labor intensive, and the delicate nature of the chocolate requires a high incurred Budgeted price Flexible budget degree of skill. Direct materials 56,250 67,500 51,000 Actual Direct labor Boxes produced 8,500 Direct materials used in production 2,250,000 g Actual direct material cost 56,250 euro Actual direct manufacturing labor-hours 1,400 Actual direct manufacturing labor cost 16,240 euro Standards Purchase price of direct materials 0.03 euros/g Materials per box 200 g X Requirements Wage rate 12.02 euro/hour Boxes per hour 10 Please respond to the following questions as if you were in an interview situation: Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June. Print Done 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement? Print Done