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Chapter 21 Homework Saved Help S 4 Exercise 21-12 Direct materials and direct labor variances LO P3 Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. 5.25 points Direct materials (15 lbs. $4 per lb.) Direct labor (3 hrs. @$15 per hr.) $60 45 eBook During June the company incurred the following actual costs to produce 8,200 units. Hint Print Direct materials (125,300 lbs. @ $3.70 per lb.) Direct labor (28,400 hrs. @ $15.15 per hr.). $463, 610 430,260 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.) Chapter 21 Homework i Saved Help Save & Exit Submit Check my work 4 AP = Actual Price SP = Standard Price 5.25 points (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.) eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost 0 $ 0 $ D 0 0 Required 1 Required 2 > Chapter 21 Homework A Seved Help Save & Exit Submit Check my work 4 AP = Actual Price SP = Standard Price 5.25 points (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.) eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost 0 $ 0 $ 01 $ 01