Homework: Ch. 10 MyAcctgLab Assignment Save Score: 0 of 1 pt 1 of 3 (0 complete) ) HW Score: 0%, 0 of 3 pts Question Help o E10-32A (similar to) Center Ware is a manufacturer of ceramic bottles. E (Click the icon to view the standards.) (Click the icon to view the actual results.) Requirements 1. Compute the direct materials price variance and the direct materials efficiency variance. 2. What is the total flexible budget variance for direct materials? 3. Who is generally responsible for each variance? 4. Interpret the variances. Requirement 1. Compute the direct materials price variance and the direct materials efficiency variance. First, determine the formula for the price variance, then compute the price variance for direct materials. (Enter the result as a positive number. Round your answer to the nearest whole dollar. Label the variance as favourable (F) or unfavourable (U).) ) x Price variance i Data Table Data Tabla The company has these standards: Last month, Center Ware reported the following actual results for the production of 73,000 bottles: Direct materials 1.1 kg per bottle, at a cost of $0.50 per kg 1/4 hour per bottle, at a cost of $13.00 per hour S104.000 $ Direct materials (clay) 1 kg per bottle, at a cost of $0.40 per kg Direct labour... 1/5 hour per bottle, at a cost of $14.20 per hour Static budget variable overhead $ $70,000 Static budget fixed overhead.. $30,000 Static budget direct labour hours......... 10,000 hours Static budget number of bottles....... 45,000 Center Ware allocates manufacturing overhead to production based on standard direct labour hours. Direct labour. Actual variable overhead Actual fixed overhead S28,000 Print Done Chaos pe rer Clear All Check Answer Print Done