Please show your work

0 Standards 16 pounds per pot at a cost of $5.00 per Direct materials (resin) ....................... pound Direct labor ............................... 4.0 hours at a cost of $21 .00 per hour Standard variable manufacturing overhead rate ..... $5.00 per direct labor hour Budgeted xed manufacturing overhead ......... $32200 Standard fixed MOH rate ...................... $8.00 per direct labor hour (DLH) Print Done i Actual Results X CenterWare allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1, 100 flower pots: Purchased 18,740 pounds at a cost of $5.20 per pound; Direct materials .. used 18,040 pounds to produce 1, 100 pots Worked 4.4 hours per flower pot (4,840 total DLH) at a Direct labor . . . .. . cost of $20.00 per hour Actual variable manufacturing $5.60 per direct labor hour for total actual variable overhead . . manufacturing overhead of $27, 104 Actual fixed manufacturing overhead $31,700 Standard fixed manufacturing overhead allocated based on actual production $35,200 Print DoneCenterWare is a manufacturer of large ower pots for urban settings. The company has these standards: @CIiCk the icon to view the standards.) (Click the icon to view the actual results.) Read the quirements. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the nal variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials. |:| x(|:| - |:|) = DMpn'cevarianoe |:|x(|:| -|:|) =|:|I:| Determine the formula for the quantity variance, then compute the quantity variance for direct material. |:| *( |:| - |:|) = DMquantityvariance |:|x