Example: Jamie Draperies manufactures curtains. To complete a curtain, Jamie requires the following inputs: Direct materials standard: 10 square yards at $5 per yard Direct manufacturing labor standard: 5 hours at $10 per hour During the second quarter, Jamie Draperies made 1,500 curtains and used 14,000square yards of fabric costing $68,600. Direct manufacturing labor totaled 7,600 hours for $79,800. a. Compute the direct materials price and efficiency variances for the quarter. b. Compute the direct manufacturing labor price and efficiency variances for the quarter. c. Prepare the journal entries to record the variances