Fiexible Budgeting and Variance Analysis following actual results: 1. Frepare the following variance analyses for both chocolates and the total, based on the actual rewults and production levele at the end of the Budget vear: 3. Direct materials price variance, firect materials quantity variance, and total varance. b. Direct labor rate variance, dirtct labor time variance, and total variance. Enter a faworabie variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Durect materials quantity variance 5 . Total direct materials cost variance s b. Direct labor rate variance Direct labor time variance 5 Total direct labor cost variance $ 2. The variance analyses should be bused on the amounts at volumes. The budget mist flex with the volume changes. If the yolume is different production. In this way, spending froen volume changes can be separated from efficiency and price variances. Fiexible Budgeting and Variance Analysis following actual results: 1. Frepare the following variance analyses for both chocolates and the total, based on the actual rewults and production levele at the end of the Budget vear: 3. Direct materials price variance, firect materials quantity variance, and total varance. b. Direct labor rate variance, dirtct labor time variance, and total variance. Enter a faworabie variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Durect materials quantity variance 5 . Total direct materials cost variance s b. Direct labor rate variance Direct labor time variance 5 Total direct labor cost variance $ 2. The variance analyses should be bused on the amounts at volumes. The budget mist flex with the volume changes. If the yolume is different production. In this way, spending froen volume changes can be separated from efficiency and price variances