You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you ar (Click the icon to view the data.) Read the requirements. Next question information related to a fictitious chocolatier for the month of June. Requirement 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of May. In order to calculate the variances complete the following table. (Round your final answer to the nearest whole number. Abbreviation used: qty = quantity.) Direct materials Direct labor Actual costs incurred Actual input qty * Budgeted price Flexible budget Requirements Please respond to the following questions as if you were in an interview situation: 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June. 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement? Data table The chocolatier manufactures truffles in 12-piece boxes. The production labor intensive, and the delicate nature of the chocolate requires a high degree of skill. Actual Boxes produced Direct materials used in production Actual direct material cost Actual direct manufacturing labor-hours Actual direct manufacturing labor cost Standards 10,000 13,000 pounds (lbs.) $78,000 2,400 $31,200 Purchase price of direct materials Materials per box $7.00 per pound 0.90 pounds Wage rate $15.00 per hour Boxes per hour 6 Help me solve this Etext pages Calculator Print Done Print Done Clear all Check answer