- X i Data Table Static Budget 450 Number of jacket lots (1 lot = 1 dozen) Per Lot of Jackets: Direct materials 12 yards at $1.80 per yard = $21.60 1.9 hours at $8.30 per hour = $15.77 Direct manufacturing labor Actual Results 475 Number of jacket lots sold Total Direct Inputs: Direct materials Direct manufacturing labor 6,650 yards at $2.00 per yard = $13,300.00 808 hours at $8.40 per hour = $6,787.20 Print Done Homework: Chapter 7 Homework Save Score: 0 of 3 pts 6 of 6 (5 complete) HW Score: 81.25%, 13 of 16 pts E7-28 (similar to) Question Help Mary Lou, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Mary Lou's May 2020 static budget and actual results for direct inputs are as follows: (Click the icon to view the data.) (Click the icon to view additional information.) Read the requirements. Requirement 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? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as avorable or unfavorable. (Round all answers to the nearest cent.) Actual Price Actual Input Qty * Budgeted Price May 2020 Results Variance Units Direct materials Direct labor Total variance Choose from any list or enter any number in the input fields and then click Check Answer. 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