Flint Bicycle Company manufacturers mass market bicycles that they sell to major chain retailers.

Standard per bicycle

Direct materials:2 tires/bicycle @ $1.25/tire

Direct labor.5 hour of input at $30 per hour

Actual performance for February 2020

Actual number of bicycles manufactured 800

Material purchased and used 1,620 tires at $1.20 per tire.Some were damaged during installation, and had to be thrown out.

Direct labor 58,000 hours @ 31.10 per hour

For each variance, be sure to indicate favorable (F), or unfavorable (U).

The Material price variance is $____________________

The Material efficiency variance is $________________