The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 20,000 16. at 4.90 per b. 8,650 hours for a total of $174,730 51,600 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.85 per pound and 10 minutes of direct laborat $21.20 per hour. 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 and classify each os favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) (2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) AP = Actual Price SP- Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no varlance. Round "Cost per unit" answers to 2 decimal places.) (2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (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. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each calculations.) favorable or unfavorable. (Do not round Intermediate Actual Cost Standard Coot S $ O S 0 0 TE Required 2 > AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effe each variance by selecting for favorable, unfavorable, and no varlance. Round "Cost per unit" answers to 2 decimal place (2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect variance by selecting for favorable, unfavorable, and no varlance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Do not round intermediate ca Actual Const Standard Cost X 0 $ 0 $ 0