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  3. \table[[,inputs,standard quantity,standard price],

\table[[,Inputs,Standard Quantity,Standard Price],[Direct materials,2.9,pounds,$,4.12,per pound],[Direct labor,0.65,hours,$,21.98,per hour],[Variable manufacturing overhead,0.65,hours,$,5.87,per hour]] \table[[Actual results:,,,],[Actual output,,2,100,units],[Actual...

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Accounting

\table[[,Inputs,Standard Quantity,Standard Price],[Direct materials,2.9,pounds,$,4.12,per pound],[Direct labor,0.65,hours,$,21.98,per hour],[Variable manufacturing overhead,0.65,hours,$,5.87,per hour]]
\table[[Actual results:,,,],[Actual output,,2,100,units],[Actual variable manufacturing overhead cost,$,7,140,]]
\table[[,Actual Quantity,Actual Price],[Actual direct materials cost,6,450,pounds,$,3.95,per pound],[Actual direct labor cost,1,100,hours,$,21.33,per hour]]
Required:
Use the information above to calculate the variances.
Note: Use ABS() formula for variances.
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