o nt Dwyer, Inc. is a privately held furniture manufacturer. For August 2017. Dwyer had the following standards for one of its products, a wicker chair Click the icon to view the standards per chair) The following data were compiled regarding actual performance actual output units (chairs) produced, 2.400 square metres of input purchased and used, 4.500 price per square metre 55.70, direct manufacturing labour costs $9,612, actual hours of input, 890, labour price per hour 510 80 Nover Required Data Table 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labour Glve a plausible explanation of why each variance occurred 2. Suppose 7,000 square metres of materials were purchased at $5.70 per square metre), even though only 4.500 square metres were used Suppose further that vacances are identified at the most imely control point, accordingly, direct materials price variances are isolated and traced at the time of purchase to the purchasing department rather than to the production department Compute the price and efficiency variances under this approach Standards per Chair per square 2 square metres of input at $ 560 metre Direct materials Drect manufacturing Labour 0.5 hour of input at $ 10 90 per hour uncement Due Assig Print Print Done Done ent Assign Flexible budget cost DAY Drac materials Direct manufacturing labour X Choose from any list or enter any number in the input fields and then continue to the next question vpleted Ass care U12 bied ons Home Cour Accounting A Managerial Emphas tighth Canadian dito SAMSUNG