< > Test 2 1 ACCT&203 5432 - S25 - Lemmond 16 A company reports the following for one of its products. Direct materials standard (4 pounds @ $3 per pound) Actual direct materials used (AQ) ezto.mheducation.com M Question 16 - Test 2 - Connect Course Hero Help $12 per unit 310,000 pounds 8 Actual units produced 00:22:15 62,000 units $ Actual cost of direct materials used 852,500 AQ Actual Quantity SQ Standard Quantity Mc Graw Hill Saved AP = Actual Price SP=Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost AQ AP AQ SP x 0 $ 0 $ 0 $ 0 0 SQ Standard Cost SP < Prev 16 of 16 Next > Save & Exit Submit