Name Cost Accounting Chs7,23 Date 1. Samuel Company manufactures quilts. To complete a quilt, Samuel requires the following inputs: Direct materials standard: Direct manufacturing labor standard 10 square yards at $5 per yard 5 hours at $10 per hour During January, Samuel Company made 1,500 quilts and used 14,000 square yards of fabric costing $68,600. Direct manufacturing labor totaled 7.600 hours for $79,800 a. Compute the direct materials price and efficiency variances for January b. Compute the direct manufacturing labor price and efficiency variances for January, ... For each variance that is favorable, give two reasons. For each variance that is unfavorable, give two reasons