Flexible Budgeting and Variance Analysis Sharon's Delights Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: minus sign and an unfavorable variance as a positive number. a. Direct materials price variance, direct materials quantity variance, and total variance. b. Direct labor rate variance, direct labor time variance, and total variance. 2. The variance analyses should be based on the amounts at volumes. The budget must flex with the volume changes. If the volume is different production. In this way, spending from volume changes can be separated from efficiency and price variances