4 12.5 points eBook A company reports the following for one of its products. Direct materials standard (3 pounds @ $2 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used. AQ Actual Quantity SQ = Standard Quantity AP Actual Price SP Standard Price Actual Cost $6 per unit X 260,000 pounds 70,000 units Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. $ 455,000 Standard Cost X X

A company reports the following for one of its peoducts Compute the direct materials price and quantity variances and identity each as fivorable or unfavorable