K Donna Life, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Donna Life's May 2020 static budget and actual results for direct inputs are as follows: (Click the icon to view the data.) (Click the icon to view additional information.) Read the requirements. Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) May 2020 Units Direct materials Direct labor Total variance Actual Results Price Variance Efficiency Flexible Variance Budget Data table Actual Input Qty x Budgeted Price - abor) combined is and direct manufacturing Static Budget Number of jacket lots (1 lot = 1 dozen) Per Lot of Jackets: Direct materials Direct manufacturing labor Actual Results Number of jacket lots sold Total Direct Inputs: Direct materials Direct manufacturing labor 300 14 yards at $1.80 per yard = $25.20 1.7 hours at $7.70 per hour = $13.09 325 5,200 yards at $2.00 per yard = $10,400.00 488 hours at $7.80 per hour = $3,806.40 using the new material? na Life should not unfavorable. Donna Life should not the standard material accounting system is improve. Although the new material in light of it is unclear whether v material, especially in ial price since the new Print Done K Donna Life, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Donna Life's May 2020 static budget and actual results for direct inputs are as follows: (Click the icon to view the data.) (Click the icon to view additional information.) Read the requirements. Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) May 2020 Units Direct materials Direct labor Total variance Actual Price Results Variance Efficiency Variance Flexible Budget More info Actual Input Qty Budgeted Price - K abor) combined is and direct manufacturing Donna Life has a policy of analyzing all input variances when they add up to more than 8% of the total cost of materials and labor in the flexible budget, and this is true in May 2020. The production manager discusses the sources of the variances: "A new type of material was purchased in May. This led to faster cutting and sewing, but the workers used more material than usual as they learned to work with it. For now, the standards are fine." Print Done using the new material? na Life should not unfavorable. Donna Life should not the standard material accounting system is d improve. Although the new material in light of Direct manufacturing labor 488 hours at $7.80 per hour = $3,806.40 Print Done t, it is unclear whether w material, especially in rial price since the new K Donna Life, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Donna Life's May 2020 static budget and actual results for direct inputs are as follows: (Click the icon to view the data.) i (Click the icon to view additional information.) Read the requirements. Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) May 2020 Units Direct materials Actual Results Price Variance Direct labor Total variance Efficiency Variance Flexible Budget Requirements Actual Input Qty Budgeted Price por) combined is nd direct manufacturing . Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Comment on the May 2020 results. Would you continue the "experiment" of using the new material? Print Done using the new material? a Life should not nfavorable. onna Life should not he standard material ccounting system is improve. Although the hew material in light of Direct manufacturing labor 488 hours at $7.80 per hour = $3,806.40 Print Done it is unclear whether w material, especially in rial price since the new