The Yates Corporation manufactures lamps Requirements (click the icon to view the standards.) 1 Compute the January 2012 price and efficiency variances of direct materials The number of finished units budgeted for January 2012 was 9.980, 9.900 units and direct manufacturing labor were actually produced. 2.Prepare journal entries to record the variances in requirement 1 Click the icon to view actual data.) Assume that there was no beginning inventory of either direct materials or finished units During the month, materials purchases amounted to 99,800 lbs., at a total cost of S533 930, Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage