standard cost system to control manufacturing costs. The following standard unit cost of a jacket is based on the static budget volume of 14,100 Alberto manufactures embroidered jackets. The company prepares flexible budgets and uses jackets per month: E (Click the icon to view the cost data.) Requirements Data Table ble (U).) Requirement 1. Compute the price and efficiency variances for direct materials and direct labour. Begin by determining the formula for the price variance, then compute the price variances for direct materials (DM) and direct labour (DL). (En ) x Price variance DM ( ) DL uable Next, determine the formula for the efficiency variance, then compute the efficiency variances for direct materials (DM) and direct labour (DL). (U).) ) X Efficiency variance Direct materials 3.0 sq.mx $4.10 per sq. m) $ 12.30 Direct labour ( 2 hours x $9.30 per hour) 18.60 Manufacturing overhead: Variable ( 2 hours x $0.66 per hour) 1.32 4.20 5.52 Fixed ( 2 hours x $2.10 per hour) $ 36.42 Total cost per jacket Data for November of the current year include the following: a. Actual production was 13,700 jackets. b. Actual direct materials usage was 2.60 m per jacket at an actual cost of $4.20 per m2 c. Actual direct labour usage of 25,200 hours cost $239,400 d. Total actual overhead cost was $77,000 DM DL rable Requirement 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance.( (U).) Alberto Manufacturing Overhead Variances Total overhead variance: Print Done Actual overhead cost Standard overhead allocated to production Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air