Hello, please complete calculations based on the document that is attached. Please make sure you do not use a solution that is found on this website because when I looked, my question choice is different. Please let me know if you have any questions.

ACT 5140 - Accounting for Decision Makers HW #3 - Chapter 10 Directions: Answer both questions. Please submit your work in Word or PDF formats only. You can submit an Excel file to support calculations, but please \"cut and paste\" your solutions into the Word or PDF file. Be sure to show how you did your calculations. Also, please be sure to include your name at the top of the first page of your file. The assignment is due by 11:59 PM on September 18, 2016. Please run spell check and proofread your answers. If you have any questions, please e-mail me at yessman@nova.edu or ayessmancma@gmail.com. Good luck! Question #1 Evaluate the following statements concerning variance analysis. Be sure to provide specific examples to justify your evaluations. a) When evaluating variances, it is best for managers and others to consider one variance at a time rather than groups of variances together. b) \"Favorable\" variances represent good performance and \"unfavorable\" variances represent bad performance. Question #2 Expected production (units) Standard DML hours per unit Standard DML rate per hour Standard pounds of DM usage per unit Standard DM price per pound Units produced DML hours worked Total cost of DML Pounds of DM purchased Total cost of DM purchased Pounds of DM used 25,000 7 $25 5 $12 Actual 26,000 176,800 $4,508,400 150,000 $1,725,000 143,000 a) Calculate the following variances: Direct manufacturing labor rate variance Direct manufacturing labor usage variance Direct materials price variance Direct materials usage variance b) Explain what each of the calculated variances imply about the firm's operations. Be specific! Direct manufacturing labor rate variance Direct manufacturing labor usage variance Direct materials price variance Direct materials usage variance