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

AR = Actual Rate SR \\( = \\) Standard Rate \\( A Q= \\) Actual Quantity \\( S Q= \\) Standard Quantity AP \\( = \\) Actual Price \\( \\mathrm{SP}= \\) Standard Price Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) \\begin{tabular}{|l|l|} \\hline Required 1 & Required 2 \\\\ \\hline \\end{tabular} Compute the direct labor rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Required 1 Required 2