work Question 3, E7-30 (sis Part 1 of 8 Davidow, Inc. is a privately held furniture manufacturer. For August 2017, Davidow had the following standards for one of its products, a w (Click the icon to view the standards per chair.) The following data were compiled regarding actual performance: actual output units (chairs) produced, 2.800; square yards of input purch 990; labor price per hour, $10.80. Read the requirements. Requirement 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor. Give a plausible w Let's begin by determining the formula used to calculate the actual costs of direct materials, then enter the amounts in the formula and calc Direct materials Actual cost acturer. For August 2017, Davidow had the following standards for one of its products, a wicker chair: mair.) tual performance: actual output units (chairs) produced, 2,800; square yards of input purchased and used, 5,300; price per square yard, $5.90; direct manufacturing I and efficiency variances for direct materials and direct manufacturing labor. Give a plausible explanation of why each variance occurred. calculate the actual costs of direct materials, then enter the amounts in the formula and calculate the cost. x x Actual cost m3, E7-30 (similar to) Part 1 of 8 Of its products, a wicker chair: HW Score: 0%, 0 of 5 points O Points: 0 of 1 Save ards of input purchased and used, 5,300; price per square yard, $5.90; direct manufacturing labor costs, $10,692; actual hours of input, or. Give a plausible explanation of why each variance occurred. the formula and calculate the cost. es for dire costs of di Data table C Direct materials Direct manufacturing labor Standards per Chair 2 square yards of input at $ 5.70 per square yard 0.5 hour of input at $ 10.90 per hour Print Done - X dire of di Requirements 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor. Give a plausible explanation of why each variance occurred. 2. Suppose 7,800 square yards of materials were purchased (at $5.90 per square yard), even though only 5,300 square yards were used. Suppose further that variances are identified at their most timely control point; accordingly, direct materials price variances are isolated and traced at the time of purchase to the purchasing department rather than to the production department. Compute the price and efficiency variances under this approach. Print Done - X