Ch 21 HW 2 The following describes production activities of Mercer Manufacturing for the year 50 points Actual direct materials used Actus direct labor used Actual units produced 33,000 lbs. at 35.00 per 1b. 10,700 hours for a total of $221,490 63,000 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.85 per pound and 10 minutes of direct laborat $2170 per hour Block Hurt AH-Actual Hours SH - Standard Hours AR - Actual Rate SR - Standard Rote Print AQ - Actual Quantity 50 - Standard Quantity AP-Actual Price SP - Standard Price Weferences (1) Compute the direct materiais price and quantity variances and closity each as favorable or unfavorable (Indicate the effect of cech variance by selecting for favorable, unfavorable, and no verlence. Round "Cost per unit answers to 2 decimal places) (2) Compute the direct inborrate and efficiency variances and cosy each as favorable or unfavorable (Indicate the effect of each verience by selecting for favorable, unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 L. SP - Standard Price (1) Compute the direct materials price and quantity vartances and classify each as favorable or unfavorable (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) (2) Compute the direct labor rate and efficiency vartances and classify each as favorable or unfavorable. (Indicate the effect of each verlance by selecting for favorable, unfavorable, and no variance.) 50 points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Hint Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Do not round Intermediate calculations.) Print Atual Cost Standard Cont References Required 2 >