Suppose 8200 square yards of materials were purchased (at $ 5.30 per squareyard), even though only 5900 square yards were used. Suppose further that variances are identified at their most timely control point; accordingly, direct materials price variances are isolated and traced at the time of purchase to the purchasing department rather than to the production department. Compute the price and efficiency variances under this approach.

I need the answers for the bottom 2 boxes. The first 2 boxes are correct.

Original Question information if needed:

The following data were compiled regarding actual performance: actual output units (chairs) produced, 2,100; square yards of input purchased and used, 5,900; price per square yard,

$ 5.30 direct manufacturing labor costs, $9,393; actual hours of input, 930; labor price per hour, $10.10.

Standards Per Chair

Direct materials 3 square yards of input at $5.10 per square yard

Direct manufacturing labor 0.5 hour of input at $10.20 per hour

egin with recalculating the costs using the information provided for the alternative approach. Actual input Actual cost Budgeted price Flexible budget cost urchasing S Production 43,460$ 41,820