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Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct nateria (14 6. $4 per 16.) Direct Tabor (4 hrs 514 per hr.) $56 S6 Duting June the company incurred the following actual costs to produce 8,300 units Direct materials (118,700 1.2 53.70 per 1b.) Direct Tabor (36,500 hrs. $14.15 per hr.). $439,190 516,475 AH Actual Hours SH - Standard Hours AR Actual that SR - Standard Rate AQ-Actual Quantity SQ - Standard Quantity AP - Actual Price SP Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each varionce by selecting for tovorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (1) Compute the direct materials price and quantity variances. (Indicate the effect of each voriance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each varionce by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost Required 2 > (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each voriance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Accost Standard Cost (Required 1

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