Check my work 9 The following describes production activities of Mercer Manufacturing for the year, 15 points Actual direct materials used Actual direct labor used Actual units produced 29,000 lbs. at $5.10 per lb. 8,100 hours for a total of $164,430 48,000 Skipped Budgeted standards for each unit produced are 0.50 pound of direct material at $5.05 per pound and 10 minutes of direct labor at $22.00 per hour. eBook Hint AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Print References AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance 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 variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Do not round intermediate calculations.) Actual Cost Standard Cost $ 0 $ 0 $ $ O O Required 1 Required 2 Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Do not round intermediate calculations.) Actual Cost Standard Cost X 0 $ 0 $ 0 $ 0 0