Grand Displily is a manufackurer of large fower pots for urban setings. The company has these standsids: (Cick the ison to ves the standards.) (Cick the kon to vien the actual resuts.) Fead the reguiterents. Requirement 1. Compute the direct maberial price varience and the drect matenil quanty variance. (Eiter the variances as postive numbers. Enter curtency arbounts in the lotimila to the nearest cent and then round the final vatiance angount io the noarest whole dollar. Label fle variance as tivorable (G) or untavorabie (U; Atbrevasions ised OM = Direci materials) Standards Actual Results Grand Display allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1 ann flower nots: Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances