Thele udgeting and variance Analy Lowe Chocolate company makes dark and light chocolate oth products require cocoa and now the foowing planning formation been made available Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Coche 12 h 14.00 Sugar 10 14 lbs Standard labor time 0.41 0.5 he Dark Chocolate Light Chocolate Planned production 5.200 10.000 Standard laborat $14.50 per hr $14.50 per her I love your company does not expect there to be any beginning or ending inventories of coor At the end of the budget ya, I love Mycolate Company had the following actuat results Light Chocolate 222 Adual production) 4,900 10.400 Actual Price per Pound Actual Pounds Purchased and Used 55.00 153,200 Sugar 0.55 199 700 Actual Labor Rate Actual Labor Hours Used Coco tual Labor Rate Actual Labor Hours Lund Dark chocolate 14.20 per. 1,700 Light chocolate 14 per hur 5.330 Required: 1. Prepare the following variance analyses for both dates and the total based on the actual results and production levels at the end of the budget Wet materials privarica, red material quantity, and total variance b. De laborate variance, direct labore variants, wd total variance Enter a favorable variance as a negative number using mission and annavorable variance as a positive number Direct material price variance intentable Direct materials Quantity variance TH Merahalu Total direct materials cott walance Ustvarite be Dwet laborate variance Direct laborum variance Favorable Total direct labor cost variance Linfavorable 2. There are the based on the standard amountat actual volmes The budget must be with the volume changes uume is different run the band volume, it was in this case, the budget used for performance wtion should rect the darot in die maande labot that will be more for the actual production. In this wonding front volume changes can be