E7-26 (similar to Question Help Powerful Foods manufactures pumpkin scones. For January 2017, it budgeted to purchase and use 15,000 pounds of pumpkin at $0.89 a pound. Actual purchases and usage for January 2017 were 16,000 pounds at $0.82 a pound. Powerful budgeted for 60,000 pumpkin scones. Actual output was 60,800 pumpkin scones Read the requirements Requirement1. Compute the flexible-budget variance Let's begin by determining the formula used to calculate the actual pumpkin costs, then enter the amounts in the formula and calculate the cost. Actual pumpkin costs Requirements 1. Compute the flexible-budget variance. 2. Compute the price and efficiency variances 3. Comment on the results for requirements 1 and 2 and provide a possible explanation for them. Print Done