The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used 32,000 lbs. at $5.85 per lb. Actual direct labor used 10,610 hours for a total of $218,566 Actual units produced 63,030 Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.80 per pound and 10 minutes of direct labor at $21.60 per hour. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Compute the direct materials price and quantity variances. (Do not round intermediate calculations.)

Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. (Do not round intermediate calculations.)

Actual Cost

0