Materials and manufacturing labor variances. Consider the following data collected for Theta Homes, Inc.: Direct Materials Direct Manufacturing Labor Cost incurred: Actual inputs actual prices $ 150,000 $100,000 Actual inputs standard prices 162,000 95,000 Standard inputs allowed for actual output standard prices 168,000 90,000 Required: Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor.