The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials...
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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. 16,700 pounds at $4.40 per pound 17,335 hours at $26 per hour 31,400 0.50 pound at $4.35 per pound 0.50 hour at $27 per hour Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost AQ X AP AQ X SP SQ SP $ 17,335 17,335 $ 27.00 15,700 $27.00 26.00 $ 450,710 468,045 423,900 17,335 44,145 Rate variance Efficiency variance $ 17,335 X44,145 Favorable $ Total variable overhead cost variance 26,810 Unfavorable Unfavorable < Required 1 Required 2 > 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. 16,700 pounds at $4.40 per pound 17,335 hours at $26 per hour 31,400 0.50 pound at $4.35 per pound 0.50 hour at $27 per hour Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost AQ X AP AQ X SP SQ SP $ 17,335 17,335 $ 27.00 15,700 $27.00 26.00 $ 450,710 468,045 423,900 17,335 44,145 Rate variance Efficiency variance $ 17,335 X44,145 Favorable $ Total variable overhead cost variance 26,810 Unfavorable Unfavorable < Required 1 Required 2 >
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