Question 4 Giving the following information: a) Actual materials input used b) Actual labor input used c) Actual price of materials per unit d) Actual price of labor per hour e) Flexible budget price of materials per unit f) Flexible budget price of labor per hour g) Flexible budget units of materials h) Flexible budget hours of labor 8,500 KG 3,500 hours $16 $10 S18 $8.5 8,000KG 3,200 hours Required: a) The price variance for both materials and labor b) The efficiency variance for both materials and labor