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Ballona Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $222 per board. This includes 25 pounds of direct materials, at the budgeted price of $3 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.70 per hour. Following are additional data for the month of July: (Click the icon to view the data.) Read the requirements. Requirement 1. Compute direct manufacturing labor variances for July. Label each variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Data table 5,300 units Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct labor cost 210,000 pounds $651,000 39,000 hours $585,000 Direct materials efficiency variance $1,200 F There were no beginning inventories. Print Done 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. Variance (pounds) + Next, compute the budgeted pounds allowed for the output achieved. Determine the formula, then complete the computation. Pounds allowed 11 Determine the formula to compute the actual pounds of direct materials used in production in July. Actual pounds used Winchester Bay Surfboards actually used pounds of direct materials for production in July. Requirement 4. Calculate the direct materials price variance. Price variance