please solve

two separate problems.

QS 21-8 (Algo) Direct materials price and quantity variances LO P3 A company reports the following for one of its products. Direct materials standard (4 pounds @ $3 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used $ 12 per unit 310,000 pounds 62,000 units $ 852,500 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost Standard Cost AQ X SP SQ SP AP $ 2.75 AQ 310,000 310,000 X $ 3.00 X $ 3.00 $ 852,500 $ 930,000 $ 77,500 $ 0 $ Direct materials price variance Direct materials quantity variance Total direct materials variance 77,500 Favorable o Unfavorable Unfavorable Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 20,600 units of production shows sales of $473,800; variable costs of $61,800; and fixed costs of $141,000. S 21-4 (Algo) Flexible budget performance report LO P1 e company's actual sales were 27,700 units at $588,100. Actual variable costs were $113,200 and actual fixed costs were $136,000. epare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each riance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable Unfavorable $ Unfavorable ales ariable costs Contribution margin 637,100 $ 83,100 588,100 474,900 Unfavorable 554,000 113,200 Unfavorable ixed costs 141,000 413,000 136,000 (22,800) Favorable Unfavorable ncome $ $