% P23-32B (similar to) SoundSmart manufactures headphone cases. During September 2018, the company produced and sold 107,000 cases and recorded the following costdata: Click the icon to view the cost data) Read the requirements Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor Begin with the col variances Select the required formulas, compute the cost variances for direct materials and direct labor, and ently whether each variance is favorable (F) or unfavorabile (U) (Abbreviations Formu Direct materials cost variance Data Table rect labor cost variance Standard Cost Information 5 Dr Mata Direct Variable Mandaring Over Quantity 2 parts 0.02 hours 002 hours 0.15 per part 7.00 per hour 1100 per hour Feed Manufactug Overhead (2.900 for sale budget volume 92.000 1900 honor 517 per hour Actual Cost Information 270.000 1 hours 0 20 percant 52 .000 to be Montering Over ed Mahal be the ot h eek