Redfish Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $206 per board. This includes 40 pounds of direct materials, at the budgeted price of $2 per pound, and 9 hours of direct manufacturing labor, at the budgeted rate of $14.00 per hour. Following ar additional data for the month of July :: (Click the icon to view the data.) X Read the requirements Data Table Requirement 1. Compute direct manufacturing labor variances for July. Label each variance as favorable (F) or unfavorable (U). 5.100 units Price variance Efficiency variance Flexible-budget variance 220,000 pounds $682,000 Requirement 2. Compute the actual pounds of direct materials used in production in July Begin by computing the number of pounds represented by the direct materials efficiency variance. Determine the formula, then complete the computation. Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct labor cost Direct materials efficiency variance 41.000 hours $590,400 $1,100 F Variance (pounds) There were no beginning inventories. Next, compute the budgeted pounds allowed for the output achieved. Determine the formula, then complete the computation. Pounds allowed Print Done Determine the formula to compute the actual pounds of direct materials used in production in July Actual pounds used Redfish Bay Surfboards actually used pounds of direct materials for production in July Requirement 3. Calculate the actual price per pound of direct materials purchased. Determine the formula, then complete the computation. (Round your answer to the nearest cent.) Actual price per pound Requirement 4. Calculate the direct materials price variance. Price variance Choose from any list or enter any number in the input fields and then continue to the next