Given the Following Data Required:
Compute the Price, Quantity and Flexible?budget Variances for Direct

Essay

Given the following data: $\begin{array}{cl}&\text { Direct } & \text { Direct } \\&\text { Material } & \text { Labor }\\\text { Standard price per unit of input } & \$ 12 \text { per foot } & \$ 14 \text { per hour } \\\text { Actual price per unit of input } & \$ 14 \text { per foot } & \$ 13 \text { per hour } \\\text { Standard inputs allowed per unit } & &\\\text { of output } & 5 \text { feet } & 3 \text { hours } \\\text { Actual units of input } & 2,500 \text { feet } & 1,550 \text { hours }\\\text { Actual units produced }&600 \text { units }\end{array}$ Required:
Compute the price, quantity and flexible?budget variances for direct material and labor.Indicate whether each variance is favorable or unfavorable.