A manufactured product has the following information for June Direct materials Direct labor Overhead Units...
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A manufactured product has the following information for June Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 5 pounds @ $7 per pound 3 DLH @ $17 per DLH 3 DLM @ 512 per DLH Actual Results 42,400 pounds @ $7.20 per pound 25,000 hours $17.50 per hour $ 300,000 8.400 units Compute the (1) direct materials price variance and (2) direct materials quantity variance (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ=Standard Quantity AP = Actual Price SP = Standard Price Standard Cost Actual Cost $ 0 $ $ 0
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