The following information relates to production activities of Mercer Manufacturing for the year.

Actual direct materials used $17,400$ pounds at $$4\mathrm{.}75$ per pound

Actual direct labor used $18,035$ hours at $$33$ per hour

Actual units produced $32,800$

Standard quantity and price per unit for direct materials $0\mathrm{.}50$ pound at $$4\mathrm{.}70$ per pound

Standard quantity and rate per unit for direct labor $0\mathrm{.}50$ hour at $$34$ per hour

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.Exercise $21-15($Algo$)$ Direct materials and direct labor variances LO P$3$

The following information relates to production activities of Mercer Manufacturing for the year.

Actual direct materials used

Actual direct labor used

Actual units produced

Standard quantity and price per unit for direct materials

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.

$17,400$ pounds at $$4\mathrm{.}75$ per pound

$18,035$ hours at $$33$ per hour

$32,800$

$0\mathrm{.}50$ pound at $$4\mathrm{.}70$ per pound

$0\mathrm{.}50$ hour at $$34$ per hour

Complete this question by entering your answers in the tabs below.

Compute the direct materials price and quantity variances. $($Indicate the effect of each variance by selecting favorable, unfavorable, or no

variance.$)$