Input Price Variance for DM and Input Price Variance for DL

The budgeted and actual data for direct materials and labor are as follows Budgeted Actual $1.75 per pound 7 pounds per unit $11 per hour 0.3 hours per unit $2 per pound DM price DM quantity per unit 6 pounds per unit DL price DL quantity per unit 0.2 hours per unit $8 per hour Actual sales volume is 100 units. Budgeted sales volume is 80 units a) Without computations, characterize the following variances as favorable or unfavorable: input price variance for DM oF CU input efficiency variance for DM F OU input price variance for DL FU input efficiency variance for DL oF oU b) Compute the input price and input efficiency variances for DM and DL. As a preliminary step, compute actual input quantity (total pounds or hours we actually used) and flexible budget input quantity (total pounds or hours we should have used for actual output): actual input quantity for DM 700 flexible budget input quantity for DM600 actual input quantity for DL30 flexible budget input quantity for DL20 pounds pounds hours hours Next, compute the variances. Enter favorable variances as a positive number and unfavorable variances as a negative number. Do NOT enter F or U input price variance for DM175 input efficiency variance for DM$ -100 input price variance for DL -1200 input efficiency variance for DL-80