Exercise $21-15($Algo$)$ Direct materials and direct labor variances LO P$3$

The following information relates to production activities of Mercer Manufacturing for the year.

Actual direct materials used

Actual direct labor used

Actual units produced

Standard quantity and price per unit for direct materials

Standard quantity and rate per unit for direct labor

$AR=$ Actual Rate

$SR=$ Standard Rate

$AQ=$ Actual Quantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

$17,100$ pounds at $$4\mathrm{.}60$ per pound $17,735$ hours at $$30$ per hour $32,200$

$0\mathrm{.}50$ pound at $$4\mathrm{.}55$ per pound

$0\mathrm{.}50$ hour at $$31$ per hour

$(1)$ Compute the direct materials price and quantity variances.

$(2)$ Compute the direct labor rate and efficiency variances.