A manufactured product has the following information for June. Standard Actual Direct materials Direct labor Overhead...

 

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A manufactured product has the following information for June. Standard Actual Direct materials Direct labor Overhead 5 lbs. @$9 per lb.. 3 hrs. 3 hrs. $17 per hr. $11 per hr. 43,500 lbs. @ $9.20 per lb. 25,400 hrs. @ $17.50 per hr. $289,800 Units manufactured 8,600 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP Standard Price AQ Actual Cost X X AP Direct materials price variance Direct materials quantity variance Total direct materials variance $ EA AQ x SP SP 0 0 X 69 $ 0 Standard Cost SQ SP X A manufactured product has the following information for June. Standard Actual Direct materials Direct labor Overhead 5 lbs. @$9 per lb.. 3 hrs. 3 hrs. $17 per hr. $11 per hr. 43,500 lbs. @ $9.20 per lb. 25,400 hrs. @ $17.50 per hr. $289,800 Units manufactured 8,600 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP Standard Price AQ Actual Cost X X AP Direct materials price variance Direct materials quantity variance Total direct materials variance $ EA AQ x SP SP 0 0 X 69 $ 0 Standard Cost SQ SP X

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