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home#1Lucia Company has set the following standard cost per unit for direct materials and direct...

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Accounting

home#1Lucia Company has set the following standard cost per unit for direct materials and direct labor.
Oirect materials (14 pounds 83 per pound)
Direct labor (2 hours $14 per hour)
$4228
During May the company incurred the following actual costs to produce 8.100 units.
Direct materials (115,700 pounds $2.80 per pound)
323,960277,770
Dinect labor (19,7ee hours e $14.19 per hour)
AR= Actual Rate
SR= Standard Rate
AQ= Actual Quantity
SQ= Standard Quantity
AP= Actual Price
SP = Standard Price
AH = Actual Hours
SH= Standard Hours
(1) Compute the direct materials price and quantity variances.
(2) Compute the direct labor rate variance and the direct labor efficiency variance.
Complete this question by entering your answers in the tabs below.
Compute the direct materials price and quantity variances.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.
Compute the direct labor rate variance and the direct labor efficiency variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.
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