3 Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2 per lb.) Actual direct materials used (10) Actual finished units produced Actual cost of direct materials used $ o per finished unit 360,000 lbs. 76,000 unita 5648,000 ook Print Terences AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price SP - Standard Price Compute the direct materials price and quantity variances and classify each as favorable, unfavorable or no variance. Actual Cost Standard Cost 0 $ 0 $ 0 $ 0 0 O o C here to search