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The following information relates to production activities of Mercer Manufacturing for the year. Actual direct...

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Accounting

The following information relates to production activities of Mercer Manufacturing for the year.
Actual direct materials used
Actual direct labor used
Actual units produced
Standard quantity and price per unit for direct materials
Standard quantity and rate per unit for direct labor
AR = Actual Rate
SR= Standard Rate
AQ= Actual Quantity
SQ= Standard Quantity
AP= Actual Price
SP= Standard Price
16,000 pounds at $4.05 per pound
16,635 hours at $19 per hour
30,000
0.5 pound at $4.00 per pound
0.5 hour at $20 per. hour
(1) Compute the direct materials price and quantity variances.
(2) Compute the direct labor rate and efficiency variances.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
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