managerial Accounting

15. (15 points) Portland Inc. (PI) has developed standard costs for direct materials and direct labor. For the current year PI estimated the following costs for one of their major products, the PIZZ Standard Quantity Standard Price Direct Materials 0.25 pounds per unit $25 per pound Direct Labor 0.70 hours per unit $15 per hour Units 30,000 PI's actual results for the year were production and sales of 33,500 units using 8,100 pounds of direct materials for a total material cost of $216,675 and direct manufacturing labor cost was $13 per hour for a total direct labor cost of $341,250. a. Calculate a full analysis of the direct materials price, efficiency, and flexible budget variances. b. Calculate a full analysis of the direct labor price, efficiency, and flexible budget variances