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Hello, can someone kindly assist me with this problem? Reed Corp. has setthe following standard direct materials and direct labor costs per unitfor the product

Hello, can someone kindly assist me with this problem?

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Reed Corp. has setthe following standard direct materials and direct labor costs per unitfor the product it manufactures. Direct materials (15 lbs. @- $5 per lb.) 583 Direct labor (4 hrs. {5! $16 per hr.) 64 During June the company incurred the following actual costs to produce 8,500 units. Direct materials (138,293 lbs. [it $4.36 per ID.) $655,453 Direct labor (3?,BBIB hrs. 9 $16.13 per hr.}. 595,?90 AH = Actual Hours SH = Standard Hours AP = Actual Rate SR = Standard Rate A0 = Actual Quantity.r SQ = Standard Quantity AP = Actual Price SP = Standard Price {1} Compute the direct materials price and quantity variances. {Indicate the effect of each variance by selecting for favorable, unfavorable. and no variance.} {2) Compute the direct labor rate variance and the direct labor efciency variance. [Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Corr-Ilene lis queslion by entering your answers in tile tabs hehw. ReuniI-Ed 1 Compute lite direct materials price and quantity variances. Indicate whether each van'anoe is favorable or unfavorable. Required 2 >

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