AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Compute the direct materials price and quantity variances and identify each as favorable or unfavorable

A company repo-:ts the following for one of its products. per dire used Actual cost direct AQ Actual Quantity SQ = Standard Quantity AP = Puce SP Standard Price S per 200,000 70,000 Combte the direct materials price and quantity vurjonces and identify each as tavorable or unfavorable,