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Exerclse 8-12(Algo) Direct materlals and direct labor varlances LO P3 Camila Company has set...

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Accounting

Exerclse 8-12(Algo) Direct materlals and direct labor varlances LO P3
Camila Company has set the following standard cost per unit for direct materlals and direct labor.
During June the company incurred the following actual costs to produce 8,500 units.
Direct naterials (121,800 pounds $3.70 per pound)
Direct labor (37,600 hours & $15.10 per hour)
AR = Actual Rate
SR= Standard Rate
AQ=Actual Quantity
SQ= Standard Quantity
AP= Actual Price
SP= Standard Price
AH= Actual Hours
(1) Compute the direct materlals price and quantity variances.
(2) Compute the direct labor rate varlance and the direct labor efficlency varlance.
Complete this question by entering your answers in the tabs below.
Required 2
Compute the direct materials price and quantity variances.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
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