Saved Carpenter Creations has set the following standard cost per unit for direct materials and direct...

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Saved Carpenter Creations has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds $4 per pound) Direct labor (3 hours @ $15 per hour) $ 60 45 During June the company incurred the following actual costs to produce 8,000 units. Direct materials (122,600 pounds @ $3.70 per pound) Direct labor (27,100 hours $15.10 per hour) 2:22 AR Actual Rate SR Standard Rate $453,620 409,210 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 Complete this question by entering your answers in the tabs below. 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.) Actual Cost AQ x AP 453,620 x $ 3.70 $ 1,678,394 Price variance Standant Cost AQ 453.620 SP sa SP x S 4.00 8,000 x S 4.00 S $ 32,000 1,814,480 $136,086 $136 086 infavorable 3 1,782 480 Saved Carpenter Creations has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds $4 per pound) Direct labor (3 hours @ $15 per hour) $ 60 45 During June the company incurred the following actual costs to produce 8,000 units. Direct materials (122,600 pounds @ $3.70 per pound) Direct labor (27,100 hours $15.10 per hour) 2:22 AR Actual Rate SR Standard Rate $453,620 409,210 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 Complete this question by entering your answers in the tabs below. 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.) Actual Cost AQ x AP 453,620 x $ 3.70 $ 1,678,394 Price variance Standant Cost AQ 453.620 SP sa SP x S 4.00 8,000 x S 4.00 S $ 32,000 1,814,480 $136,086 $136 086 infavorable 3 1,782 480