You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the?interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June.

The chocolatier manufactures truffles in?12-piece boxes. The production is labor?intensive, and the delicate nature of the chocolate requires a high degree of skill.

Actual

Boxes produced

8,500

Direct materials used in production

2,300,000

g

Actual direct material cost

39,100

euro

Actual direct manufacturing labor-hours

1,700

Actual direct manufacturing labor cost

19,720

euro

Standards

Purchase price of direct materials

0.02

euros/g

Materials per box

200

g

Wage rate

12.04

euro/hour

Boxes per hour

10

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.)

Actual input qty

Actual costs

x

incurred

Budgeted price

Flexible budget

Direct materials

Direct labor

Now compute the variances and label each amount as favorable?(F) or unfavorable?(U).

The materials efficiency variance is

U

The materials price variance is

F

The labor efficiency variance is

U

The labor price variance is