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Help pls! Exercise 23-12 (Algo) Direct materials and direct labor variances LO P3 Camila Company has set the following standard cost per unit for direct
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Exercise 23-12 (Algo) Direct materials and direct labor variances LO P3 Camila Company has set the following standard cost per unit for direct materials and direct labor: Direct =aterials (15 pounds &$3 per pousd) 545 Direet labor (3 hours e $15 phe hour) 45 During June the company incurred the following actual costs to produce 8,400 units. Direct materials (128,900 pounds e$2.75 per pound) 5. 354,475 Direct labot (28,900 hours $15.15 per hour) 437,835 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 variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance Step by Step Solution
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