Reuse mandachu coffee mugs that it sols to other companies for customizing with their own logos Rouse prepares flexible budgets and unes a standard cost system to control manufacturing costs. The standard unit cost at a coffee mug is based on static balget volume of 60.100 coffee mugs per month (Che loan to view the cost data) Actual cost and production information for July 2024 follows Click the icon to view actual cost and production information) Read the requirements Requirement 1. Compute the set and efficiency variances for direct materials and direct labor Begin with the cost variances Select the regred femmes compute the cast variances for direct materials and died labor, and identify whether wich variance in favorable (F) or unfavorable (U) (Abbreviations use AC actual AQ hay FOR Sed vehead SC standard cost 50 standerd quantity) Demand varice Det labor Formal Variance