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Question 22 45 pts The following information describes actual production activities of the Cheers Corp.: Raw materials used 12,000 lbs. at $2.50 per lb. Factory payroll 3,500 hours for a total of $42,000 15,000 units were completed during the year Budgeted standards for each unit produced: 1 lb. of raw material at $2.60 per lb. 15 minutes (.25) of direct labor at $12.75 per hour Compute the direct materials price and quantity and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Edit View Insert Format Tools Table 12nt Paraoranh R TU 2 |