GrandScapes is a marufacturer of large flower pots for urban settings. The company has these standards: Cick the icon to view the standards ) (Click the icon to view the actual results.) Read the reguirements, Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbert Eriter cuirl amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollat, Label the variance at firyorabie (Fior unfavorable (U). Abbreviations used: DM = Direct materiais) First determine the formula for the price variance, then compute the price variance for direct materials. Actual Results 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. GrandScapes is a manufacturer of large flower pots for urban settings. The company has these standards: ES. (Click the icon to view the standards.) Click the icon to view the actual results:) Read the reguirements. Standards GrandScapes is a marufacturer of large flower pots for urban settings. The company has these standards: Cick the icon to view the standards ) (Click the icon to view the actual results.) Read the reguirements, Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbert Eriter cuirl amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollat, Label the variance at firyorabie (Fior unfavorable (U). Abbreviations used: DM = Direct materiais) First determine the formula for the price variance, then compute the price variance for direct materials. Actual Results 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. GrandScapes is a manufacturer of large flower pots for urban settings. The company has these standards: ES. (Click the icon to view the standards.) Click the icon to view the actual results:) Read the reguirements. Standards