Question 2 Input price and Input efficiency variances The budgeted and actual data for direct materials and labor are as follows: Budgeted Actual DM price $2 per pound $1.75 per pound DM quantity per unit 3 pounds per unit 4 pounds per unit DL price $5 per hour $11 per hour DL quantity per unit 0.2 hours per unit 0.3 hours per unit Actual sales volume is 100 units, Budgeted sales volume is 80 units. a) Without computations, characterize the following variances as favorable or unfavorable Inout price variance for DM OF OU input efficiency variance for DM OF BU Input price variance for DL OF OU Input efficiency variance for DL OF BU b) Compute the input price and input efficiency variances for DH and DL As a preliminary step, compute actual input quantity (total pounds or hours we actually used) and flexible budget input quantity (total pounds or hours we should have used for actual output actual input quantity for DM-400 pounds flexible budget input quantity for DM 300 pounds actual input quantity for DL - 30 hours flexible budget inout quantity for DL = 20 hours Next, compute the variances. Enter favorable variances as a positive number and unfavorable variances as a negative number. Do NOT enter For U. Input price variance for DM - $ X Input efficiency variance for DM - $200 Input price variance for DL= 90 input efficiency variance for Las X Sunt Very Saves Wortello Las esponse