Ch 08 Ex 8-15 Saved Help Save & Exit Submit Check my work The following describes production activities of Mercer Manufacturing for the year. 15 points Actual direct materials used 20,000 lbs. at $4.25 per lb. 7,265 hours for a total of Actual direct labor used $140,941 Actual units produced 42,030 eBook Hint Budgeted standards for each unit produced are 0.50 pound of direct material at $4.20 per pound and 10 minutes of direct labor at $20.40 per hour. Ask Print References 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 and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) (2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Check my work Complete this question by entering your answers in the tabs below. Required 1 Required 2 points Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Do not round intermediate calculations.) eBook Hint Actual Cost Standard Cost Ask Print References Required 1 Required 2 > Check my work Complete this question by entering your answers in the tabs below. 15 points Required 1 Required 21 Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Do not round intermediate calculations.) eBook Actual Cost Standard Cost Hint Ask Print References