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The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 22,000 lbs. at $4.35 per lb. 6,575 hours for a total of $128,870 36,000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.30 per pound and 10 minutes of direct labor at $20.60 per hour. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate 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.) Complete this question by entering your answers in the tabs below. 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 (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.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Do not round Intermediate calculations.). AQ Actual Cost AQT X 22,000 X $ 95,700 AP $ 4.35 SP $ 4.30 SP $ 20.60 22,000 Standard Cost AQ 6,575 $ 135.445 X $ 94,600 $ 1,100 US $ 40,845 Direct materials price variance Direct materials quantity variance Direct labor rate variance $ 1,100 Favorable 40,845 Unfavorable $ 11,845 Favorable Required Required 2 > (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.) Complete this question by entering your answers in the tabs below. Required 1 Required2 Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Do not round intermediate calcu Actual Cost Standard Cost $ 0
