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The following information relates to production activities of Mercer Manufacturing for the year. AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Compute the direct materials price and quantity variances. (Indicate the effect

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The following information relates to production activities of Mercer Manufacturing for the year. AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Compute the direct materials price and quantity variances. (Indicate the effect of each variance by sefecting favorable, unfavorable, variance.) Compute the direct labor rate and efficiency variances, (indicate the effect of each variance by selecting favorable, unfavorable

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