work - Chapter 23 Saved The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 31,000 lbs. at $5.80 per lb. 10, 600 hours for a total of $217,300 63,000 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR=Standard Rate ht nt AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.75 per pound and 10 minutes of direct labor at $21.50 per hour. (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) ato couch Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.75 per pound and 10 minutes of direct labc $21.50 per hour. (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. pped Complete this question by entering your answers in the tabs below. Book Required 1 Required 2 Hint Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Print Actual Cost Standard Cost $ 0 0 $ 0 0 Required Required 2 > here to search lework - Chapter 23 Saved 5 Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.75 per pound and 10 minutes of direct laborat $21.50 per hour. (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Kipped Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Hint Print Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. (Do not round intermediate calculations.) Actual Cost Standard Cost X 0 $ 0 $ 0 $ 0 0 here to search