Hello,

I am currently unsure of how to solve this managerial accounting problem. The questionis found below, and if anything else is needed let me know. Thank you for your patience, time, and help with solving this problem!

Review Corporation has the following information available: Budgeted direct labor rate: $27.00 per hour Budgeted direct labor hours per unit 1.50 hours per unit Budgeted direct materials rate $.80 per material Budgeted direct materials per unit 2.50 direct materials per unit Direct materials used 10,000 Actual price per direct material $1.20 per direct material Direct labor hours used 8,000 Direct labor rate per hour $26.00 per hour Actual units sold 5.100 Required Calculate the amounts requested below Answer the questions on the following page What is the total budget for direct materials? Calculate the actual amount spent for direct materials? What is the total direct materials variance? Is that variance favorable or unfavorable? What is the direct materials price variance? Is that variance favorable or unfavorable? What is the direct materials efficiency variance? Is that variance favorable or unfavorable? What is the total budget for direct labor? Calculate the actual amount spent for direct labor? What is the total direct labor variance? is that variance favorable or unfavorable? What is the direct labor price variance? is that variance favorable or unfavorable? What is the direct labor efficiency variance? is that variance favorable or unfavorable? Give specific reasons why the total direct materials variance was unfavorable