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Please help Consider the following data collected for Seaside Homes, Inc.: (Click the icon to view the data table.) Requirement Compute the price, efficiency, and
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Consider the following data collected for Seaside Homes, Inc.: (Click the icon to view the data table.) Requirement Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. First compute the price, efficiency, and flexible-budget variances for direct materials. Label each variance as favorable (F) or unfavorable Price variance Efficiency variance Flexible-budget variance Now compute the price, efficiency, and flexible-budget variances for direct manufacturing labor. Label each variance as favorable (F) or un Price variance Efficiency variance Flexible-budget variance Data table Direct Materials Costs incurred: Actual inputs x actual prices Actual Inputs * standard prices Standard inputs allowed for actual output standard prices 202,000 207,000 Direct Manufacturing Labor $ 89,000 87,000 217,000 86,000 Step by Step Solution
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