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Saved Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. $70 Direct materials (14 lbs. @ $5 per lb.) Direct labor (3 hrs. $16 per hr.) 48 During May the company incurred the following actual costs to produce 8,900 units. Direct materials (126,900 lbs. $4.80 per lb.) Direct labor (31,200 hrs. e $16.10 per hr.). $609, 120 502,320 AH = Actual Hours SH - Standard Hours AR = Actual Rate 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 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 variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 SP = Standard Price (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 variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) 55 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost AQ AP AQ X X SP SQ SP 0 X X $ 0 s 0 $ Direct materials price variance Direct materials quantity variance Total direct materials variance 0 0 Required Required 2 > 5 SP - Standard Price (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 variance by sele- for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) 5 ets 04:13:52 Complete this question by entering your answers in the tabs below. Required 1 Required 1 eBook Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavor. Hint Actual Cost Standard Cont Print $ 0 $ 0 ferences $ 0 0 5 SP - Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each varlance 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 variance by selecting for favorable, unfavorable, and no variance.) 13:45 Complete this question by entering your answers in the tabs below. Required 1 Requires 2 ok Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. 70 Actual Cout Standard Cont 0 nt $ 0 $ 0 ces $ 0 0 Required 1 Required