Exercise 21-15 (Algo) Direct materials and direct labor variances LO P3

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

Actual direct materials used	17,100 pounds at $4.60 per pound
Actual direct labor used	17,735 hours at $30 per hour
Actual units produced	32,200
Standard quantity and price per unit for direct materials	0.50 pound at $4.55 per pound
Standard quantity and rate per unit for direct labor	0.50 hour at $31 per hour

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

camulabathia -jestion by entering your answers in the tabs below. Assessment Tool iFrame Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost 0 0 $ 0 0 Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost $ O $ O $ 0 0