Miler Products manufactures faux boulders to be used in various landscaping applications. A special resin is used to make the boulders. The standard quantity of resin used for each boulder is 5 pounds. Mifer Products uses a standard cost of $160 per pound for the resin. The company produced 3,600 boulders in June, In that month, 17.500 pounds of resin were purchased at a total cost of $35.000. A total of 17.000 pounds were used in producing the boulders in June Read the regulaments Requirement 1. Calculate the direct material price variance Begin by determining the formula for the price variance, then compute the price variance for the direct material. (Enter the variance as a positive number Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dolar Label the Variance as favorable (F) or unfavorable (U) Abbreviations used: DM Direct material OM price variance e variance. Requirements iance, then compute | earest whole dollar. La number. Enter cur DM = Direct materi 1. Calculate the direct material price variance. 2. Calculate the direct material quantity variance. Print Done et more help