NU Elticiency Variances Simon Company had the following information ng information available: Budgeted Costs The budget was to manufacture and sell 5,- ufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per po Direct Labor: 1.5 hours per units @ $15 per nou $2.00 per pound and had the following costs: Direct Materials: 19.500 pounds that cost $41,480 Direct Labor: 8,000 hours that cost $118,900 Required 1. Calculate the amount actually spent on direct materials 2. Calculate the flexible budget for direct materials 3. Calculate the amount of the flexible budget for direct mater 4. Is the flexible budget variance for direct materials favorable of urn 5. Calculate the amount of the price variance for direct materiais. b. If the price variance on direct materials favorable or unfavorable? 7. Calculate the amount of the efficiency variance on direct materials 8. Is the efficiency variance on direct materials favorable or unfavorable 9. Calculate the flexible budget variances for direct materials and direct labor TIL ALLin hudent for direct materials