Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (15 lbs. 2 53 per 10.) Direct labor (hrs. 8 515 per hr.) 45 During June the company incurred the following actual costs to produce 8,700 units. Direct materials (132,700 lbs. $2.70 per 10.) Direct labor (29,800 hrs. $15.15 per hr.). $355,290 451, 470 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, indicate the effect of each variance by selecting for favorable unfavorable, and no variance) (2) Compute the direct labor rote variance and the direct labor efficiency variance 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. Red 2 Compute the direct material price and quantity and Indicate whether each variance is able wave DELL vork Reed Corp has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (15 lbs.) per 15.) Direct Iabor (s. 515 per hr.) 45 During June the company incurred the following actual costs to produce 8700 units Direct materials (132,700 lbs.52.20 per tb.) Direct labor (29,00 hrs. 515.15 per hr.) $358,290 451,470 AH al Hours SH - Standard Hours AR - Actual Rate SR Standard Rate AG Actual Quantity SQ - Standard Quantity AP Actual Price SP - Standard Price (1) Compute the direct materials price and quantity variances Indicate the effect of each variance by selecting for favorable unfavorable, and no variance) (2) Compute the direct latior rohe variance and the direct labor efficiency variance 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. Core the directorate variance and the direct laboreichte vantano nellate whether advertence a few or una COR DELL