total cost of direct materials and direct manufacturing labor in the flexible budget? unfavorable. (Round all answers to the nearest cent.) \begin{tabular}{ll} \hline Static Budget \\ \hline Number of jacket lots (1 lot =1 dozen) & 650 \\ Per Lot of Jackets: \\ \hline Direct materials & 11 yards at $4.65 per yard =$51.15 \\ Direct manufacturing labor & 1.6 hours at $12.50 per hour =$20.00 \\ Actual Results & 675 \\ \hline Number of jacket lots sold & 8,775 yards at $4.85 per yard =$42,558.75 \\ Total Direct Inputs: & 945 hours at $12.60 per hour =$11,907.00 \\ \hline Direct materials \end{tabular} Nancy May has a policy of analyzing all input variances when they add up to more than 8% of the total cost of materials and labor in the flexible budget, and this is true in May 2020. The production manager discusses the sources of the variances: "A new type of material was purchased in May. This led to faster cutting and sewing, but the workers used more material than usual as they learned to work with it. For now, the standards are fine." 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? 2. Comment on the May 2020 results. Would you continue the "experiment" of using the new material