NAME: Garcia Manufacturing has the following data available for their budget report. $15.00 per hour 60 hours per unit 3 pounds per unit $2.40 Standard Labor Rate Standard Hours Per Unit Standard Direct Materials Per Unit Standard Price Per Direct Material Actual Price Per Direct Material Actual # of Pounds Used Units Manufactured and Sold Actual Labor Rate Actual Dired Labor Hours $2.50 14,350 4,800 $14.40 per hour 3,240 Required Answer the posted questions for both direct materials and direct labor Evaluate the results, how did the company perform with regard to spending on direct materials and direct labor? Direct Materials + 1. What was the total amount spent on direct materials? 2. What was the standard cost for direct materials? 3. What is the total variance for direct materials? 4. Is the above variance favorable or unfavorable? 5. What is the price variance for direct materials? 6. Is the above variance favorable or unfavorable? 7. What is the efficiency variance for direct materials? 8. Is the above variance favorable or unfavorable? 9. What is the total of the price and efficiency variances? 10. Does it match question 3? Direct Labor 11. What was the total amount spent on direct labor? 12. What was the standard cost for direct labor? 13. What is the total variance for direct labor? 14. Is the above variance favorable or unfavorable? 15. What is the price variance for direct labor? 16. Is the above variance favorable or unfavorable? 17 What is the efficiency variance for direct labor? 18. Is the above variance favorable or unfavorable? 19. What is the total of the price and efficiency variances? 20. Does it match question 13? Analysis