A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
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A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 52,300 pounds @ $8.20 per pound 21,900 hours $16.50 per hour $ 272,600 7,400 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ Actual Quantity SQ Standard Quantity AP SP Actual Price Standard Price Actual Cost Standard Cost $ 0 $ 0 0 $ 0 A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 52,300 pounds @ $8.20 per pound 21,900 hours $16.50 per hour $ 272,600 7,400 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ Actual Quantity SQ Standard Quantity AP SP Actual Price Standard Price Actual Cost Standard Cost $ 0 $ 0 0 $ 0
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