Henstie tiodgeting and Werance Ane yss testilts. 1. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year: a. Direct materiais price variance, direct materials quantity variance, and total variance. b. Difect labor rate variance, direct labor time variance, and total variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number