I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoz or sugar. At the end of the budget year. I Love My Chocolate Company had the following actual results: 1. Prepare the folsowing vanance analyses for both chocolates and the total, based on the actual results and production levels at the end of the: budget year: a. Direct materials orice variance, direct materials quantity variance, and total variance. b. Oirect habor rate vanance, direct laber time variance, and total variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a posithve number. 2. The variance an alyses should be based on the amounts at valumes. The budget must flex with the velume changes. if the volume is different from the planned volume, as it was in this case. then the budget used for performance evaluation should reflect the change in direct materials and direct fabor that will be required for the