Lucia Company has set the following standard cost per unit for direct materials and direct labor.

Direct materials (15 pounds @ $3 per pound)	$ 45
Direct labor (3 hours @ $16 per hour)	48

During May the company incurred the following actual costs to produce 8,400 units.

Direct materials (129,500 pounds @ $2.80 per pound)	$ 362,600
Direct labor (29,900 hours @ $16.10 per hour)	481,390

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.

Hart Company made 3,240 shelves using 22,240 pounds of wood costing $295,792. The company's direct materials standards for one shelf are 8 pounds of wood at $13.20 per pound.

AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further?

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Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, un Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by sele variance. Round "Rate per hour" answers to 2 decimal places.) Compute the direct materials price and quantity variances along with the total direct materials variance. (Indicate the effect favorable, unfavorable, or no variance.) Journal entry worksheet Record direct materials price and quantity variances. Note: Enter debits before credits