apters 18 200 Exercise 21-15 (Algo) Direct materials and direct labor variances LO P3 The following information relates to production activities of Mercer Manufacturing for the year Actus) direct materials Actual direct labor aatlift peel Mandand quantity and price it for direct materials Standard antity and rate per wait for direct labor AR Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price (t) Compute the direct materials price and quantity variances (2) Compute the direct labor rate and efficiency variances Complete this question by entering your answers in the tabs below. 18,235 hours at $35 per hour Compute the direct labor rate and efficiency variances indicate the effect.uf each variance by selecting favorable, unfavorate, or no variance.) Actual Cost Standard Cost Su Standara tuantity Actual Price AP SP Standard Price (1) Compute the direct materials price and quantity variances, (2) Compute the direct labor rate and efficiency variances. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost AQ AP 17,000 x $ 485 AQ 17.600 X SP SQ x SP X $ 4.80 16,600 x 5 4.80 $ 85,360 $ 84,480 $ 79,600 5880 $ 4,800 Price vanance 880 Unfavorable Quantity variance 4,800 Unfavorable Total drect materials vanance $ 5.680 Unfavorable Readed f Required 2 > AQ Actual Quantity SQ Standard Quantity AP Actual Price SP-Standard Price (1) Compute the direct materials price and quantity variances (2) Compute the direct labor rate and efficiency variances. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost S 0 $