HOP Nancy Lou, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand name outdoor outfiters in lots of one dozen. Nancy Lou's May 2017 static budget and actual results for direct inputs are as follows: (Click the icon to view the data) (Click the icon to view additional information) Read the requirements both inputs (direct materials and direct manufacturing labor} combined? What percentage is this variance of the total cost of direct materials and direct manufacturing Jabor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2017 Complete the actual results, price variance, and cost columns, then the officiency variance and flexible budget columns Label each variance as favorable or unfavorable (Round answers to the nearest cont.) Actual Price Actual Input Qty x May 2017 Results Variance Budgeted Price Units 475 Direct materials 9.262.50 Direct labor 8,170.00 Total variance Choose from any list or enter any number in the input fields and then click Check Answer 3 parts remaining Clear All Check Answer Requirements red thi e for both inp wan prat id cost column 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2017. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? 2. Comment on the May 2017 results. Would you continue the "experiment of using the new material? Print Done 3 of 3 (2 complete) Data Table - X 2017 sta ct nis Static Budget Number of jacket lots (1 lot = 1 dozen) Per Lot of Jackets: 450 ce for both nu abil ind cost colu 11 yards at $1.30 per yard = $14.30 2.2 hours at $8.50 per hour = $18.70 Direct materials Direct manufacturing labor Actual Results Number of jacket lots sold Total Direct Inputs 475 Direct materials 6,175 yards at $1.50 per yard = $9,262,50 950 hours at $8,60 per hour $8,170.00 Direct manufacturing labor Input Print Done Clear All