one question with two parts TYPED PLZ
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 21,000 lbs. at $4.30 per 1b. 7,570 hours for a total of $147,615 42,300 Budgeted standards for each unit produced are 0,50 pound of direct material at $4.20 per pound and 10 minutes of direct labor at $20.50 per hour. AH = Actual Hours SH = Standard Hours 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 and classify each as favorable or unfavorable (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) (2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Do not round intermediate calculations.) Actual Cost Standard Cont 0 5 0 5 0 Required 2 > Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year, Actual direct materials used Actual direct labor used Actual units produced 21,000 lb . at $4.30 per 1b. 7,570 hours for a total of $147,615 42,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.20 per pound and 10 minutes of direct labor at $20.50 per hour. AH - Actual Hours SH - Standard Hours 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 and classify each as favoratge or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost pek unit" answers to 2 decimal places.) (2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate and efficiency variances and classily each as favorable or unfavorable. (Do not round Intermediate calculations.) Standard Cost Actual Cost 0 $ 0 $ 0 $ 0 0
