Songsu Co. is struggling to control costs. We are hired as consultants to determine why the company's actual costs exceed budgeted costs. The Tableau Dashboard is provided for our analysis. Direct Materials Standard Actual Direct Labor Standard Actual 8 $7 $17 $6 6 lbs 15 $14 4 lbs 10 5 2 hrs 2.5 hrs 0 0 Pounds Pe.. Price Pe.. Pounds Pe.. Price Pe.. Hours Pe.. Price Pe.. Hours Pe.. Price Pe.. Overhead Standard Costs Overhead - Actual Costs $20 $15 Price Per Hour $10 Fred Overhead $5 $0 8 hrs 6 hrs $169,000 Variable Overhead Hours Par Unit 4hrs 2 hrs Ohrs Fixed Overhead Variable Overhead Actual Units Manufactured $+ableau It AQ = Actual Quantity SQ - Standard Quantity AP = Actual Price SP = Standard Price 1. & 2. Compute the direct materials price variance and direct materials quantity variance Indicate whether this cost variance is favorable, unfavorable or no variance. Standard Cost Actual Cost AQ X 12,750 X $ 178,500 AP $ 14.00 $ 0 $ 0 S 0 0 Songsu Co. is struggling to control costs. We are hired as consultants to determine why the company's actual costs exceed budgeted costs. The Tableau Dashboard is provided for our analysis. Direct Materials Standard Actual Direct Labor Standard Actual 8 $7 $17 $6 6 lbs 15 $14 4 lbs 10 5 2 hrs 2.5 hrs 0 0 Pounds Pe.. Price Pe.. Pounds Pe.. Price Pe.. Hours Pe.. Price Pe.. Hours Pe.. Price Pe.. Overhead Standard Costs Overhead - Actual Costs $20 $15 Price Per Hour $10 Fred Overhead $5 $0 8 hrs 6 hrs $169,000 Variable Overhead Hours Par Unit 4hrs 2 hrs Ohrs Fixed Overhead Variable Overhead Actual Units Manufactured $+ableau It AQ = Actual Quantity SQ - Standard Quantity AP = Actual Price SP = Standard Price 1. & 2. Compute the direct materials price variance and direct materials quantity variance Indicate whether this cost variance is favorable, unfavorable or no variance. Standard Cost Actual Cost AQ X 12,750 X $ 178,500 AP $ 14.00 $ 0 $ 0 S 0 0