Problem 17-45 Labor Mix and Yield Variances (LO 17-4) Matthews & Bros. is a local landscape construction company. In analyzing financial performance, the cost accountant compares actual results with a flexible budget. The standard direct labor rates used in the flexible budget are established cach year at the time the annual plan is formulated and held constant for the entire year. The standard direct labor rates in effect for the current fiscal year and the standard hours allowed for the actual output of work for July are shown in the following schedule: Worker Classification Standard Direct Labor Rate per Hour $44 Slandard Direct Labor- H ours Allowed for Output 1.710 2.950 The wage rates for each labor class increased under the terms of a new contract. The standard wage rates were not revised to reflect the new contract. The actual direct labor-hours worked and the actual direct labor rates per hour experienced for the month of July were as follows: Worker Clessitication Actual Direct Labor Rate per Actual Direct Labor-Hours 30 2.400 2.950 Required: Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into the following components: a. Direct labor price and efficiency variances, (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct labor price variance Efficiency variance b. Direct labor mix and yield variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct labor mix variance Yield variance