Required information Use the following information for the Exercises below. [The

Question

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. A manufactured product has the following information for June. Standard tual 46,000 lbs. $8.20 per 1b. Direct materials Direct labor Overhead Units manufactured (6 1bs. $8 per lb.) (2 hrs. e $17 per hr. 15,000 hrs. $17.60 per hr. (2 hrs. $12 per hr. 188,700 7,600 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ- Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Actual Cost Standard Cost

Explanation / Answer

Direct material price and quantity variance :

Actual Cost Standard cost AQ AP AQ*AP AQ SP AQ*SP SQ SP SQ*SP 46000 8.20 377200 46000 8 368000 45600 8 364800 9200 3200 Material price variance 9200 Unfavorable Material quantity variance 3200 Unfavorable Material cost variance 12400 Unfavorable

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