Input pro variances are isolated upon purchase. Input efficiency variances are isolated at the time of PROBLEMS (1292 . Cactures are the following standards per finished for at The number of fin de proches and sold budget for January 2017 was 20.00 units : 15000 During the month, materials purchased amounted to 40,000 $7.00, at a total cost of $280.000 Actual 15,000 S8S 2.2 lbs x 57 - $15.40) (0.32 hrs x 595 - $30.40) $240,000 and direct labor $15.00 Durer mm2 57.50 h $27.00 Diwandtering labur 0.3 hour ar 50 per hour we produced and sold in wary 2017 Actually 2017 was fillows Din materialet 3.2 x 15,000 - 33.000 Thu 57.00/ib Director labor 0.3215.000 - 4,800 hrs 50/hr 95 Acome the there was no beginning inventory of either direct materials or finished units The flowing data are for January 2017 Fudgeted 20,000 units 5.80 Number of lampseld Selling price/unit Variable cost per un Din material Direct laber Fixed cost 2 lbs x $750 SIS) (0.3 hrs x 590 - $27) $240,000 Required: the Sutic Hade variance, Flexible-Bulget variance, and Sales-volume variance for January 2018 in the table below. (6%) Flexible Budget Variances Sales Volume Variances Flexible Budget Actual Result Static Budget Variance Static Budget Limits sold Revenue Variable costs DM DL Total variable costs Contribution margin Fixed costs Operating income 10 act Contd. PROBLEM 3 (17) 2. Compute the price and efficiency variances of direct material and direct manufacturing labor for January 2017 (816) 00 et 3. Please provide 3 possible reasons for the material price variance and material efficiency variance. (396) 11