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Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct Labor Overhead
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct Labor Overhead Units manufactured Standard (7 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $13 per hr.) Actual 59,400 lbs @ $8.20 per ! 16,400 hrs. @ $15.50 per hr. $225,300 8,400 AQ - Actual Quantity SQ - Standard Quantity AP - Actual Price SP - Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cont + $ 0 0 0 0 AH - Actual Hours SH - Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Standard Cost Actual Cost $ 0 S Oo
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