E13-17 (similar to) &Show Work Question Help The Chemung Corporation manufactures lamps Requirements 1. Compute the January 2013 price and efficiency variances of direct materials and direct (Click the icon to view the standards.) The number of finished units budgeted for January 2013 was 9,830; 9,750 units were actually produced manufacturing labor. 2. Comment on the January 2013 price and efficiency variances of Chemung Corporation 3. Why might Chemung calculate direct materials price variances and direct materials Click the icon to view actual data.) efficiency variances with reference to different points in time? Assume that there was no beginning inventory of either direct materials or finished units During the month, materials purchases amounted to 98,300 lb., at a total cost of $481,670 Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. manufacturing labor. anuary 2013 was 9 8309 750 units were d effici aterials More Info ry of unted hase It has set up the following standards per finished unit for direct materials and direct manufacturing labor: price Direct materials: 10 lbs. at $4 the b $ 48.00 Direct manufacturing labor: 0.5 hour at $29 per hour 14.50 io ed More Info lli: Actual results in January 2013 were: Direct materials: 96,000 lbs. used Direct manufacturing labor: 4,600 hours$139,150 do et Print Done