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Tercer reports the following for one of its products, Direct materials standard (4lbs 92 per...

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Accounting

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Tercer reports the following for one of its products, Direct materials standard (4lbs 92 per lb.) Actual direct materials used (AQ) Metual finished units produced hetual cost of direct materials used 8 per finished unit 300,000 lbs. 60,000 units $535,000 AQ = Actual Quantity SQ = Standard Quantity AP Actual Price SP - Standard Price Print Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. Actual Cost Standard Cost

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