You consult for Java Manufacturing which provides the following information and asks you to calculate variances: Standard Costs Mugs Produced: 60,000 Direct Materials (0.3 lbs @ $0.20 per lb) $ 0. 0 6 Direct Labor (3 minutes @ $0.10 per minute) 0.3 Actual costs Mugs Produced: 65,000 Actual material usage 15,000 Actual material cost $.18 per lb Actual labor usage 223,000 minutes Actual labor cost 18,000 Calculate the following variances (6 points): Direct Material cost: Direct Labor cost: Direct Materials efficiency: Direct Labor efficiency:Brenton manufacturing is considering 3 separate projects. Their CFO has prepared the following schedule but had to leave for an emergency and asked you to complete it for a Board presentation tomorrow: Option 1 Option 2 Option 3 Present value of net cash inflows $1 ,655, 736 $2 ,046, 654 $2 ,281, 079 Initial Investment -1,599,736 -1,990,474 -2,200,121 NPV $5 6,00 0 $5 6,18 0 $8 0,95 8 Calculate the Profitability index for each option. (6 pts) Option 1: Option 2: Option 3