Required: a. Calculate the flexed budget amount against which actual performance should be evaluated and then calculate the budget variance. b. Calculate the direct labor efficiency variance in terms of hours. c. Calculate the direct labor rate variance. Note: Do not round intermediate calculations. Note: For all requirements, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). a. Flexed budget a. Budget variance b. Direct labor efficiency variance c. Direct labor rate variance $ $ $ 14,850 (830) U (270) hours (560) U TU

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Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.