Hutto Corp has set the following standard direct materials and dired labor costs per unit for the product it manufactures Dred materials (15s 54 per lb) Dired labor 4hrs stop the During May the company incurred the following actual costs to produce 8,800 units Dired materais (135.100 lbs 53.80 per b.) Director3600 3 16 10 pert) $5130 521450 AH = Actual Hours SH - Standard Hours AR = Actual Rale SR = Standard Rate AD = Actual Quantity SO = Standard Quantity AP - Actual Price SP - Standard Price our (1) Compute the direct materials price and quantity wariances indicate the effect of each variance by selecting for favorable, unfavorable, and so variance 12) Compute the direct laborate variance and the direct laborency variancescate the effect of each variance by acting for favorable, untevab, and no variance found answers to 2 decimal places) Complete this question by entering your answers in the tabs below. Required Compute the direct materials price and quantity a nces, indicate whether each variance is favorable or unavate 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 (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 efficiency variance (indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hou answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance in favorable or unfavorable Actual Cost Standard Cost Recured 2 > (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 efficiency variance Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hout" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable Actual Cost 1 0:13 PM
