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First Name Last Name Enter Your Name Ilere BASE DATA: (one unit take one pound of materials) Budgeted (Std) Quantity of Direct Materials for Production 960 Budgeted (Std) Price of Direct Materials per Pound 1,955 Budgeted (Std) Quantity of Direct Labor Hours Used for Production 829 Budgeted (Std) Price of Direct Labor per Hour 849 Budgeted (Std) Units Produced and Sold 15,000 Actual Quantity of Direct Materials Used for Production 944 Actual Price of Direct Materials per Pound 1,812 Actual Quantity of Direct Labor Hours Used for Production Actual Price of Direct Labor per Hour 852 Note: It takes one unit of direct materials to make one production unit. WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: QUESTION ONE What is the Direct Manufacturing Labor Price Variance? Record answer in dollars and cents here Record whether above answer is "favorable" or "unfavorable here QUESTION 2 What is the Direct Manufacturing Material Price Variance? Record answer in dollars and cents here Record whether above answer is "favorable" or "unfavorable here QUESTION 3 What is the Direct Manufacturing Labor Efficiency Variance? Record answer in dollars and cents Record whether above answer is "favorable" or "unfavorable here Possible Points Your Points Part 4 Grading 4 points for each dollar and cents correct answer 3 point for each "favorable or unfavorable" correct answer 1 point for each use of excel formulas to support answers 1 point for product name entry Total points for case part 4