Reed Corp. has set the following standard direct materials and direct labor costs per unit for the

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Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures.

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During June the company incurred the following actual costs to produce 9,000 units.

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Compute the (1) direct materials price and quantity variances and (2) direct labor rate and efficiency variances.
Indicate whether each variance is favorable or unfavorable.

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