Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used Direct materials standard (4 pounds @ $25 per pound) AQ = Actual Quantity SQ = Standard Quantity AP Actual Price SP = Standard Price AQ Actual Cost Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. 19,700 $ X X 2 AP $ 0.00 Direct materials price variance Direct materials quantity variance $492,498 $ AQ 19,700 492,498 $ 22,500 X X 19,700 pounds 4,700 units $ 492,500 $ 531,900 $ 100 per unit SP $25.00 $ 22,500 Standard Cost SQ 18,800 X X $470,000 SP $ 25.00

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Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used Direct materials standard (4 pounds a $25 per pound) AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price 19,700 pounds 4,700 units $531,900 $100 per unit Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance