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Firefox File Edit View History Bookmarks Tools Window Help e 32% Wed 3:40 PM Atika Ishtiaq a E https://newconnect.mheducation.com/flow/connect.html . Search Ch 08 Ex 8-15 6 Help Save & Exit Submit Saved Check my work Exercise 8-15 Direct materials and direct labor variances LO P2 15 The following information describes production activities of Mercer Manufacturing for the year. Actual direct materiala uaed Actual direct labor used Actual units producecd 29,000 lbs. at $5.10 per lb. 8,100 hours for a total of $164,430 48,000 eBook Hint Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.05 per pound and 10 minutes of direct labor at $22.00 per hour. Ask Print AQ=Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price References AH- Actual Hours SH- Standard Hours AR Actual Rate SR Standard Rate (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 Prev 1 of 1 Next Hill 1007

Explanation / Answer

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2.

Actual Cost Standard Cost AQ x AP AQ x SP SQ x SP 29000 x 5.10 29000 x 5.05 24000 x 5.05 147900 146450 121200

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