Direct manufacturing labor and direct materials variances, missing data. (CMA, heavily adapted) Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $223 per board. This includes 40 pounds of diredct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.30 per hour. Following are additional data for the month of July: Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct labor cost Direct materials efficiency variance 5,500 units 160,000 pounds S432,000 41,000 hours $594,500 1,700 F There were no beginning inventories. 1. Compute direct manufacturing labor variances for July. 2. Compute the actual pounds of direct materials used in production in July. 3. Calculate the actual price per pound of direct materials purchased. 4. Calculate the direct materials price variance