The following information relates to production activities of Merc Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct material Standard quantity and rate per unit for direct labor AR Actual Rate SR Standard Rate www frond 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 and efficiency variances. Answe Complete this question by entering your answers in the tabs Prev

The following information relates to production activities of Merc Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct material Standard quantity and rate per unit for direct labor 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. (2) Compute the direct labor rate and efficiency variances. Answe Complete this question by entering your answers in the tabs Prey 1