Required information

Use the following information for the Exercises below.

[The following information applies to the questions displayed below.] A manufactured product has the following information for June.

	Standard	Actual
Direct materials	(7 lbs. @ $9 per lb.)		60,100	lbs. @ $9.20 per lb.
Direct labor	(3 hrs. @ $16 per hr.)		25,300	hrs. @ $16.60 per hr.
Overhead	(3 hrs. @ $13 per hr.)	$	338,100
Units manufactured			8,500

Exercise 21-9 Direct materials variances LO P2

Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

Actual Cost								Standard Cost
				0

Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate

Actual Cost								Standard Cost