Required: A. Prepare (i.e. complete) the performance report above; speculate and describe a possible cause for each variance (except for direct materials and direct labor) and then suggest a specific follow-up action for each. B. In order to get a better control over the amounts spent on direct materials and direct labor, the company had previously implemented the following standards and achieved the corresponding results when 6,000 units were produced: Calculate the price and quantity variance for direct materials and direct labor, as needed, found final calculations (i.e. each variance) to the nearest whole dollar. C. Given your results to part B above, speculate and describe a possible cause for each price and quantity variance and suggest a specific follow-up action for each. Required: A. Prepare (i.e. complete) the performance report above; speculate and describe a possible cause for each variance (except for direct materials and direct labor) and then suggest a specific follow-up action for each. B. In order to get a better control over the amounts spent on direct materials and direct labor, the company had previously implemented the following standards and achieved the corresponding results when 6,000 units were produced: Calculate the price and quantity variance for direct materials and direct labor, as needed, found final calculations (i.e. each variance) to the nearest whole dollar. C. Given your results to part B above, speculate and describe a possible cause for each price and quantity variance and suggest a specific follow-up action for each