The Morgan Restaurant Group manufactures the bags of baren French hes used at ds banchised restauwts last week. Mogan's purchased and used 103,000 pounds of poet es a prce of$0 65 per pound During the week, ,800 direct labor hours wese incurred in the plant at a rate of $12 20 per hour. The standard price per pound of potatoes is $0.80, and the standard direct lao sate is $12.05 per hout Standads indicate that for the namber of bags of rozen thies produced, the factory should have used 100,000 pounds of potatoes and 1,600 hours of direct labor Read the teqairements Requiremeant 1. Determine the direct matesial price and quantity variances Be sure to label each variance as taorable or unfavorab answers to the nearest whole dlar Label the vnances as favorable (F) er urtavorable (U) Attrewtons used Drect mat Requrements Begin by deteemining the formula for the price varniance, then compute the price variance for direct materials 1. Determine the deect material price and quantity variances. Be sure to label Think of a plausible explanation for the variances found in Requieement 1 3. Determine the direct labor rate and efficiency variances. Be sure to label each variance as tavorable or untaorable 4. Could the explanation for the labor variances be tied to the material variances? Explain Print Done