Compute (a) the direct materials price and quantity variances and (b) the direct labor rate and efficiency variances. Indicate if they are favorable or unfavorable. Use the space provided in the solution packet.

1. The following information relates to the production activities of Tweety Manufacturing for the year: REQUIREMENT: Compute (a) the direct materials price and quantity variances and (b) the direct labor rate and efficiency variances. Indicate if they are favorable or unfavorable. Use the space provided in the solution packet. Direct materlals price and quantity varlances \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ ACTUAL COST } \\ \hline AQAP \\ \hline & \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{} \\ \hline AQXSP \\ \hline & \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ STANDARD COST } \\ \hline SQ X SP \\ \hline & \\ \hline \\ \hline \end{tabular} Direct materials price variance Direct materials quantity variance Total direct materials variance \begin{tabular}{|l|l|} \hline & F/U (circle) \\ \hline & F/U (circle) \\ \hline & F/U (circle) \\ \hline \end{tabular} Direct labor rate and efficlency varlances \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ ACTUAL COST } \\ \hline AH X AR \\ \hline & \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{} \\ \hline AHX SR \\ \hline & \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ STANDARD COST } \\ \hline SH X SR \\ \hline & \\ \hline \\ \hline \end{tabular} Direct labor rate variance Direct labor efficiency variance Total direct labor variance \begin{tabular}{|l|l|} \hline & F/ U (circle) \\ \hline & F/U (circle) \\ \hline & F/U (circle) \\ \hline \end{tabular}