Earthem Ware is a manufacturer of large flower pots for urban setings. The company has these standards EB (Click the icon to view the actual results) Click the icon to view the standards.) Requirements 1. Compute the direct materials price variance and the direct materials quansity variance 2. What is the total variance for direct materials? 3. Who is generally responsible for each variance? 4. Interpret the variances Requirement 1. Compute the direct materials price variance and the direct materials quantity variance. (Enter the variances as positive numbers Enter currency amounts in the for round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials Actual quanity purchasedx Standard priceA Actual priceDM price variance 13960 x ( 5.40 5604U Determine the formula for the quantity variance, then compute the quanty variance for direct materials Standard pricex xStandard quantity allowed-Actual quantity used DM quantity variance Requirement 2. What is the total variance for direct materials? Choose from any list or enter any number in the input fields and then continue to the next question. equirement 2. What is the total variance for direct materials? equirement 3. Who is generaly responsible for each variance? he purchasing department is responsible for the materials price variance. The equirement 4. Interpret the variances he department is responsible for the materials quantity variance materials price variance means that the actual price Earthen Ware's personnel paid for resin the standard budgeted price for resin The | materials quantity varianco means that Earthern ware's employees used | resin than they should have to produce 1,400 pots. hoose from any list or enter any number in the input fields and then continue to the next