Evergreen Ceramic produces are planters to be used in urban landscaping projects A special earth clay is used to make the planters. The standard quantity of day used for each planteria 23 pounds. The company uses a standard cost of $2.35 per pound of clay Evergreen produced 2,000 planters in May. In that month, 68.000 pounds of clay were purchased and used at the total cost of $153 000 Read the Requirement 1. Calculate the direct material price variance Begin by determining the formula for the price variance the compute the price variance for the direct materials (Enter the variance as a posumber Enterconey amount in the formula to the rest contando round the final variance amount to the nearest Whole dollar Label the variance as favorable For unfavorable (U) Abbreviations used Minec wa DM price Varie Requirement 2. Calculate the direct material quantity Valance Determine the formula for the quantity variance then compute the quantity Variance for the direct materials (Ender the variance as a positive number Enter currency amounts the formulates the nearest cent and the round the final variance amount to the nearest whole dollar Label the variance as favorable For unfavorable) OM quantity variance Requirements 1. Calculate the direct material price variance. 2. Calculate the direct material quantity variance. Print Done