i need both requirements answered in detail

Direct materials Standards per Chair 3 square yards of input at $ 5.70 per square yard 0.5 hour of input at $ 10.60 per hour Direct manufacturing labor 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 8,100 square yards of materials were purchased (at $5.80 per square yard), even though only 5,600 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. Dankel, Inc. is a privately held furniture manufacturer For August 2017. Dankel had the following standards for one of its products, a wicker chair (Click the icon to view the standards per chair) The following data were compiled regarding actual performance actual output units (chairs) produced, 2,000 square yards of input purchased and used, 5, $10,058, actual hours of input, 940 labor price per hour 510 70 Read the requirements Requirement 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor Glve a plausible explanation of why Let's begin by determining the formula used to calculate the actual costs of direct materials, then enter the amounts in the formula and calculate the cost Actual input Actual price Actual cost Direct materials 5,600 5,8 S 32.480 X X Next we will calculate the actual input at the budgeted price Budgeted price Actual Input 5,600 5.7 Cost 31.920 9964 X Direct materials Direct manufacturing labor ES S 940 X 106 Determine the formula and calculate the costs for the flexible budget Read the requirements X X Actual input Budgeted price Cost Direct materials 5,600 5.7 $ 31.920 Direct manufacturing labor 940 10.6 $ 9.964 Determine the formula and calculate the costs for the flexible budget Budgeted input for actual output X Budgeted price Flexible budget cost Direct materials 6.000 5.7 34 200 Direct manufacturing labor 1,000 106 = 5 10.600 Now compute the price and efficiency variances for direct materials and direct manufacturing labor Label each variance as favorable (F) or unfavorable (UX NU X wo. JU Bankel, Inc. is a privately held furniture manufacturer. For August 2017, Dankel had the following standards for one of its products, a wic (Click the icon to view the standards per chair) he following data were compiled regarding actual performance actual output units (chairs) produced 2,000 square yards of input pure 10,058, actual hours of input, 940; labor price per hour, $10 70. Read the requirements DIRECu manoraciunny Tabur Determine the formula and calculate the costs for the flexible budget Budgeted input for actual output x Budgeted price - Flexible budget cost Direct materials 6.000 5.7 34,200 Direct manufacturing labor 1,000 10.6 = 5 10.600 Now compute the price and efficiency variances for direct materials and direct manufacturing labor. Label each variance as favorable (F) Price Efficiency variances variances Direct materials 560 Direct manufacturing labor 94 X S X