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The following data were compiled regarding actual performance actual output units chairs produced, 2200 square yards of input purchased and used 6200 price per square yard $5.70 direct manufacturing labor costs $9,844 actual hours of input 920 labor price per hour $10.70

Data table Requirements 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor. Give a plausible explanation of why each variance occurred. 2. Suppose 8,700 square yards of materials were purchased (at $5.70 per square yard), even though only 6,200 square yards were used. Suppose further that variances are identified at their most timely control point, accordingly, direct materials price variances are isolated and traced at the time of purchase to the purchasing department rather than to the production department. Compute the price and efficiency variances under this approach. Requirement 1. Show computations of price and efliclency variances for direct materials and direct manulacturing laboc, Give a piausible explanation of why each variance occurred. Lei's begin by determining the formula used to calculate the actual costs of direct materials than enter the amounts in the formala and calculate the cost Actual cost Direct materials Dawson, Inc. Is a privately held furniture manufacturer. For August 2020. Dawson had the following standards for one of its products, a wicker char: EIS (Click the icon to view the standards per chaic) The following data were compiled regarding actuat perfortiance; actual output units (chairs) produced, 2,200; square yards of input purchased and used, 6,200; price por square yard Read the requiroments. direct manufacturing labor costs, 59.844 , actual hours of input, 920. labor price perhour, $10.70