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Consider the following data collected for Great Homes, Inc.: (Click the icon to view the data table.) Requirement Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. First compute the price, efficiency, and flexible-budget variances for direct materials. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Now compute the price, efficiency, and flexible-budget variances for direct manufacturing labor. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Data Table - X Flexible-budget variance Direct Manufacturing Direct Materials Labor Costs incurred: Actual inputs x actual prices $ 216,000 $ 95,000 Actual inputs x standard prices 215,000 89,000 Standard inputs allowed for actual output x standard prices 211,000 81,000 Print Done