PUT THE ASNWER IN A CHART!!!!! FOLLOW THE PICTURE OR INCORRECT! A company reports the following for one of its products.

Direct materials standard

$(4$

$$pounds @ $

$2$

$$per pound

$)$

$$$

$8$

$$per unit

Actual direct materials used

$($

AQ

$)340$

$,$

$000$

$$pounds

Actual units produced

$72$

$,$

$000$

$$units

Actual cost of direct materials used $

$612$

$,$

$000$

$$

AQ

$=$

$$Actual Quantity

SQ

$=$

$$Standard Quantity

AP

$=$

$$Actual Price

SP

$=$

$$Standard Price

Compute the direct materials price and quantity variances and identify each as favorable or unfavorable.A company reports the following for one of its products.

Direct materials standard

$(4$

$$pounds @ $

$2$

$$per pound

$)$

Actual direct materials used

$($

AQ

$)$

Actual units produced

Actual cost of direct materials used

AQ

$=$

$$Actual Quantity

SQ

$=$

$$Standard Quantity

AP

$=$

$$Actual Price

SP

$=$

$$Standard Price

Compute the direct materials price and quantity variances and identify each as favorable or unfavorable.A company reports the following for one of its products.

Direct materials standard $(4$ pounds @ $$2$ per pound$)$

Actual direct materials used $($AQ$)$

Actual units produced

Actual cost of direct materials used

$$8$ per unit

$340,000$ pounds

$72,000$ units

$$612,000$

$AQ=$ Actual Quantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

Compute the direct materials price and quantity variances and identify each as favorable or unfavorable.