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Need help with managerial accounting problem. Where did I go wrong? THanksDuring May, Joliet Fabrics Corporation manufactured 640 units of a special multilayer fabric with the trade name Stylex. The followinginformation from the Stylex production department also pertains to MayDirect material purchased : 19, 408 yards at $1. 52 per ward$|29. 488Direct material used : 18 . see yards at $1. 2 per yard16. 568Direct Labor : 3. 508 hours at $9. 29 per hour$ 2. 515The standard prime costs for one unit of Stylex are as follows*Direct material : 28 yards at $ 1 . 40 per yard$ 29 . 80Direct Labor : 5 hours at $ 7 . 80 per hour*35. 80Total standard prime cost per unit of output$64. 80Required :"Compute the following variances for the month of May. (Indicate the effect of each variance by selecting " Favorable" or" Unfavorable " . Select "Home " and enter " O" for no effect lie. zero variance ).$3 Answer is complete but not entirely correctDirect – material price variance*3 27 | Unfavorable^Direct – material quantity variance*2. 808 }| Favorable*Direct – material purchase price*Variance*582 0|Unfavorable^Direct – labor rate variance*7. 328*}| Unfavorable*^Direct-labor efficiency variance*2. 100 Unfavorable^Show more