please do all reqiure ments

* Requirements BO ec 1. Determine the direct material price and quantity variances. Be sure to label each variance as favorable or unfavorable. 2. Think of a plausible explanation for the variances found in Requirement 1. 3. Determine the direct labor rate and efficiency variances. Be sure to label each variance as favorable or unfavorable. 4. Could the explanation for the labor variances be tied to the material variances? Explain Print Done Quest The Jone Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, Jone's purchased and used 102 potatoes at a price of $0.65 per pound. During the week, 1.600 direct labor hours were incurred in the plant at a rate of $12 25 per hour. The standard pri of potatoes is $0.75, and the standard direct labor rate is $12.10 per hour. Standards indicate that for the number of bags of frozen fries produced, the fac have used 98,000 pounds of potatoes and 1,400 hours of direct labor, Read the esuirements Requirement 1. Determine the direct material price and quantity variances. Be sure to lafel each variance as favorable or unfavorable. (Enter the variance numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole collar Label the variances as favorable (F) or unfavorable (U) Abbreviations used: DM Direct materials.) Begin by determining the formula for the price variance, then compute the price variance for direct materials. Actual quantity purchased Actual price Standard price >> DM price variance 0.75 > F Choose from any list or enter annum