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 chocolatier for the month of June. (Click the icon to view the data.) Read the fequirements. 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 costs Actual input qty * incurred Budgeted price Flexible budget Direct materials $ 78,000 $ 91,000 $ 63,000 Direct labor 31,200 $ 36,000 $ 25,000 Now compute the variances. (Enter the amount of the variance, then select whether it is favorable or unfavorable.) The materials efficiency variance is 28,000 U The materials price variance is 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 Direct materials used in production Actual direct material cost Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 10,000 13,000 pounds (lbs.) $78,000 2,400 $31,200 Standards Purchase price of direct materials $7.00 per pound Materials per box 0.90 pounds Wage rate $15.00 per hour Boxes per hour 6 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