Materials and manufaCturing labour variances, standard costs. Cay; sider the following selected data regarding the manufacture of a line of holstered chairs: Standards per Chair Direct materials 2 square metres of input at $10 per square me: Direct manufacturing labour 0.5 hour of input at $20 per hour The following data were compiled regarding actual performance: tual output units (chairs) produced, 20,000; square metres of input p chased and used, 37,000; price per square metre, $10.20; direct mauufac 17E.- ing labour costs, $176,400; actual hours of input, 9,000; labour price r3; hour, $19.60. I REQUIRED l.' Show your computations on the price and efciency variances for ' at. materials and for direct manufacturing labour. Give a plausible expl tion of Wl'lV the variances occurred. -'=