Exam Corporation has the following information available: Budgeteddirectlaborrate:BudgeteddirectlaborhoursperunitBudgeteddirectmaterialsrateBudgeteddirectmaterialsperunitDirectmaterialsusedActualpriceperdirectmaterialDirectlaborhoursusedDirectlaborrateperhourActualunitssold$27.00perhour1.50hoursperunit$.80permaterial2.50directmaterialsperunit10,000$1.20perdirectmaterial8,000$26.00perhour5,100 Required - Calculate the amounts requested below - Answer the questions on the following page 1. What is the total budget for direct materials? 2. Calculate the actual amount spent for direct materials? 3. What is the total direct materials variance? 4. Is that variance favorable or unfavorable? 1. What is the total budget for direct materials? \begin{tabular}{|l|l|} \hline 2. Calculate the actual amount spent for direct & \\ materials? \\ \hline 3. What is the total direct materials variance? & \\ \hline 4. Is that variance favorable or unfavorable? & \\ \hline 5. What is the direct materials price variance? & \\ \hline 6. Is that variance favorable or unfavorable? & \\ \hline 7. What is the direct materials efficiency variance? & \\ \hline 8. Is that variance favorable or unfavorable? & \\ \hline 9. What is the total budget for direct labor? & \\ \hline 10. Calculate the actual amount spent for direct & \\ \hline labor? & \\ \hline 11. What is the total direct labor variance? & \\ \hline 12. Is that variance favorable or unfavorable? & \\ \hline 13. What is the direct labor price variance? & \\ \hline 14. Is that variance favorable or unfavorable? & \\ \hline 15. What is the direct labor efficiency variance? & \\ \hline 16. Is that variance favorable or unfavorable? & \\ \hline \end{tabular} Give specific reasons why the total direct materials variance was unfavorable. Glve specific reasons why the total direct labor variance was unfavorable