Dager, inc is a privately held furniture manufacturer. For August 2017, Dager had the tollowing standards for one of its products, a wicker chain Click the icon to view the standards per chair.) The following data were compled regarding actual performance actual output units (chairs) produced, 2,100, square yards of input purchased and used, 3,800 price per square yard, $5.70, direct manufacturing labor costs, $9,595, actual hours of input, 950, labor price per hour, $10.10 rect materials irect manufacturing labor ow give a plausible e he materials price variance he materials efficiency Data Table Standards per Chair 2 square yards of input at $ 5.50 per square yard 0.5 hour of input at $ 10.30 per hour materials standards were set Direct materials Direct manufacturing labor he labor pnice variance Print Done he labor efficiency variance equirement 2. Suppose 6,200 square yards of materials were purchased (at $5.70 per square yard), even though only 3,800 square yards were used uppose further that vaniances are identined at their most timely control point, accordingly, direct materials price vanances are isolated and traced at the time purchase to the purchasing department rather than to the production department. Compute the price and efficiency variances under this approach. egin with recaiculating the costs using the information provided for the alternative approach Actual input Actual cost Budgeted price Flexible budget cost urchasing roduction