M06 Ch 21 Graded Practice 5 1 points Saved Direct materials standard (4 lbs. @ $3 per lb.) $ Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used 12 per finished unit 350,000 lbs. 70,000 units $910,000 AQ = Actual Quantity SQ Standard Quantity eBook AP = Actual Price Hint Print References Mc Graw Hill SP=Standard Price Compute the direct materials price and quantity variances and classify each as favorable, unfavorable or no variance. Actual Cost < Prev 5 of 10 Next > Standard Cost Help Save & Exit Submit Check my work