Data Table Data Table The company has these standards: Direct materials (clay) 1 $ 1 kg per bottle, at a cost of $0.40 per kg Last month. Grand Ceramics reported the following actual results for the production of 65,000 bottles: Direct labour 1/5 hour per bottle, at a cost of $14.40 per hour Static budget variable overhead $70,000 Direct materials . 1.1 kg per bottle, at a cost of $0.50 per kg Static budget fixed overhead $30,000 Direct labour .... 1/4 hour per bottle, at a cost of $13.40 per hour Static budget direct labour hours 10,000 hours Actual variable overhead ... ... $104,000 he reg Static budget number of bottles 45,000 Actual fixed overhead $28,000 Grand Ceramics allocates manufacturing overhead to production based on standard direct labour hours. Pri Print Done Print Done er the results as a positive number. Round your answer to the nearest whole dollar. Label the variance as ) > x = Efficiency variance ) x quirement 2. What is the total flexible budget variance for direct materials? (Enter the result as a positive number. Round your answer to the nearest whole dollar. Label the variance as favourable (F) or avourable (U).) total flexible budget variance for direct materials is $1 ose from any list or enter any number in the input fields and then continue to the next question. . ? nd Ceramics is a manufacturer of ceramic bottles. (Click the icon to view the standards.) (Click the icon to view the actual results.) quirements Compute the direct materials price variance and the direct materials efficiency variance. What is the total flexible budget variance for direct materials? Who is generally responsible for each variance? nterpret the variances quirement 1. Compute the direct materials price variance and the direct materials efficiency variance. t, determine the formula for the price variance, then compute the price variance for direct materials. (Enter the result as a positive number. Round your answer to the nearest whole dollar. Label the variance as ourable (F) or unfavourable (U).) (Actual price per input unit Standard price per input unit ) Actual price per input unit = Price variance 13.40) ( 14.40 ermine the formula for the efficiency variance, then compute the efficiency variance for direct materials. (Enter the results as a positive number. Round your answer to the nearest whole dollar. Label the variance as ourable (F) or unfavourable (U).) x Efficiency variance ) quirement 2. What is the total flexible budget variance for direct materials? (Enter the result as a positive number. Round your answer to the nearest whole dollar. Label the variance as favourable (F) or avourable (U).) total flexible budget variance for direct materials is $1 Grand Ceramics is a manufacturer of ceramic bottles. (Click the icon to view the standards.) (Click the icon to view the actual results.) Requirements 1. Compute the direct materials price variance and the direct materials efficiency variance. 2. What is the total flexible budget variance for direct materials? 3. Who is generally responsible for each variance? 4. Interpret the variances. ) x Efficiency variance ) x Requirement 2. What is the total flexible budget variance for direct materials? (Enter the result as a positive number. Round your answer to the nearest whole dollar. Label the variance as favourable (F) or unfavourable (U).) The total flexible budget variance for direct materials is $ Requirement 3. Who is generally responsible for each variance? The production department is responsible for the materials price variance. The production department is responsible for the materials efficiency variance. Requirement 4. Interpret the variances. The materials price variance means that the actual price Grand Ceramics's personnel paid for clay the standard budgeted price for clay. This Grand Ceramics's profits by $ The materials efficiency variance means that Grand Ceramics's employees used clay than they should have to produce 65,000 bottles. This Grand Ceramics's profits by $