ufacturing of hang gliders. It is a competitive business, with only a few major customers and a lot of machine shops like Hang Ten competing for this specialized business. The company has improved its materials to improve it product offerings. In order to stay on top of 6. VARIANCE ANALYSIS. Hang Ten is a small manufacturer of fasteners used in the man- things, management at Hang Ten runs a variance analysis every month to make sure it stays on target. The following table contains its results for September. Measure Actual quantity Standard quantity Actual price Standard price Materials 1,500 pounds 1,600 pounds $150 per pound S1.45 per pound Labor 4,000 hours 3,600 hours $15.00 per hour $16.00 per hour a. Complete a price and efficiency variance for the materials used by Hang Ten. b. Complete a price and efficiency variance for the labor used by Hang Ten. c. How well did Hang Ten perform? Why