Please answer requirements 1-3 and include formulas used. Thank you.

WOPR! HW #10 - Chapter 11 Save Score: 0 of 1 pt 9 of 10 7 com HW Score: 70%. 7 of 10 E11-28A (similar to) Question O Chie Design is a manufacturer of age fower pots for usings. The company has these words Ce the loon to whers) min to view the state Read the mounts Requirement Compute the direct material pro variance and the directional Quatty variance (w the varios percurrency anots in the form to the traw to the rest Whole Gol Label the store or unfave (Athened Drama Fint determine the form for the price varianor, then compte the price variance for direct OM Drie van Che Design wiede manuten verotused on standard hours. Last month, the company owing for the production 70 Standards Direct materials (resin) Directibor Standard variable manufacturing overhead rate Budsted fixed manufacturing overhead Standarded MOH rate 11 pounds per pocos pound 20 hours of 21.00 1200 por crew 5.500 55.00 per directo Pused 2010 DO Direct mattis dopound 1,700 Ww. Director cost of $20.00 Actual reacturing porn stor hour ever goed of 1.600 Actualacting over $23.00 Standard manat werod cated based on a Print Done P Dan Choose from any lot or enter any number in the outfields and then click Check Answer Car AI Check Anwar 4. Romaining ment 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variance arest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct mat ermine the formula for the price variance, then compute the price variance for direct materials. x DM price v = i X Standards 11 pounds per pot at a cost of $4.00 per Direct materials (resin). pound Direct labor.. 3.0 hours at a cost of $21.00 per hour Standard variable manufacturing overhead rate ..... $2.00 per direct labor hour Budgeted fixed manufacturing overhead ... $24,500 Standard fixed MOH rate.... $5.00 per direct labor hour (DLH) Print Done and and thank Chan Anwar i Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Print Done