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Earthern Ware is a manutacturer of large fower pots for urban setings. The company has these standards: (Click the icon lo view the standards) Click the icon to view the actual rosult. Read the Requirement 1. Compule the direct maserial price variance and the direct material quantity variance. (Enter the variances as positive numben. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar, Label the vartance as favorable (F) or unfavorablo (U). Abbreviations used: DM = Direct matorials) First defermine the formula for the price variance, then compute the price variance for diect materials. Standards Requirements 1. Compule the direct material price variance and the drect material quanty Variance 2. Who is generaly responsble for each variance? 3. Interpet the variances. Actual Results