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AQ= Actual Quantity A company reports the following for one of its products. Direct materials standard (3 pounds @ $3 per pound) Actual direct materials
AQ= Actual Quantity
A company reports the following for one of its products. Direct materials standard (3 pounds @ $3 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 $ 9 per unit 000 pounds 270, 71, 000 units $ 742,500 Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. ctual Cos AQ tandard Co
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