Streesboro Ceramics produces terge planters to be used in urban landscaping projects. A special earth-clay is used to make the plantes. The standard quantity of clay used for each parter is 24 pounds. The company is a standard cost of $1,96 per pound of clay Streetsbero produced 3.500 plaers in May is that morth, 67,500 pounds of clay were purchased and used at the total cost of $100.000 Read the teurements Requirement 1. Calculate the direct material price variance begin by determining the formula for the price variance, the compute the price vatance for the direct maletas, Enter the variance as a positive number Enter currency amounts in the formula to the nearest cant and then round the fal ved to the nearest whole dailar Label the variance as favorable For unhverable (U). Abbreviations set CM Cirect materiale) OM revance Requirement 2. Calculate the direct material quantity variance Determine the formula for the quartty vanance, then compute the quantty vanance for the direct materials. Enter the vanance as a positive number Emar cancy amounts in the bus to the neast card and than nood tha amount to the nearest whole dolar Latel the varunce as favorable() or unavorable ( D quantity vana Streesboro Ceramics produces terge planters to be used in urban landscaping projects. A special earth-clay is used to make the plantes. The standard quantity of clay used for each parter is 24 pounds. The company is a standard cost of $1,96 per pound of clay Streetsbero produced 3.500 plaers in May is that morth, 67,500 pounds of clay were purchased and used at the total cost of $100.000 Read the teurements Requirement 1. Calculate the direct material price variance begin by determining the formula for the price variance, the compute the price vatance for the direct maletas, Enter the variance as a positive number Enter currency amounts in the formula to the nearest cant and then round the fal ved to the nearest whole dailar Label the variance as favorable For unhverable (U). Abbreviations set CM Cirect materiale) OM revance Requirement 2. Calculate the direct material quantity variance Determine the formula for the quartty vanance, then compute the quantty vanance for the direct materials. Enter the vanance as a positive number Emar cancy amounts in the bus to the neast card and than nood tha amount to the nearest whole dolar Latel the varunce as favorable() or unavorable ( D quantity vana