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please provide information to fill in the boxs with. also explain which numbers go into which. Creating the table would be the easiest way. Lucia
please provide information to fill in the boxs with.
Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct naterials ( 15 pounds e $4 per pound) 560 Direct labor (4 hours $16 per hour) 64 During May the company incurred the following actual costs to produce 8,300 units. Direct materials (126,600 pounds $3.80 per pound) \$ 481,080 Direct labor (36,300 hours e $16.10 per hour) 584,430 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. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) also explain which numbers go into which. Creating the table would be the easiest way.
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