Requirement

Compute the price, efficiency, and flexible$-$budget variances for direct materials and direct manufacturing labor.

Question list O Question 1 O Question 2 O Question 3 Consider the following data collected for Modern Homes, Inc.: (Click the icon to view the data table.) Requirement Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. First compute the price, efficiency, and flexible-budget variances for direct materials. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Data table Costs incurred: Actual inputs x actual prices Actual inputs x standard prices Standard inputs allowed for actual output x standard prices Print Direct Materials 206,000 209,000 213,000 Done x Direct Manufacturing Labor 87,000 85,000 78,000