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anewconnect.mheducation.com Saved Help Save&Exit; Submit Check my work The following information describes production activities of Mercer Manufacturing for the year Actual direct materials used Actual direct labor used Actual units produced 30,000 lbs. at $5.15 per 1b. 9,150 hours for a total of $186, 660 54,120 ped Budgeted standards for each unit produced are 0.50 pounds of direct $21.40 per hour material at $5.10 per pound and 10 minutes of direct labor at ok AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 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 efficlency 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.) K Prev 2 of5lE Next

Explanation / Answer

Actual Cost 1500 14994 Standard Cost AQ x AP AQ x SP SQ x SP 30,000 x $5.15 30,000 x $5.10 27,060 x $5.10 $154,500.00 $153,000.00 $138,006.00 1500 16494 14994 Direct materials price variance 1500 Unfavorable Direct materials quantity variance 14994 Unfavorable Total direct materials variance $16,494 Unfavorable 2 Actual Cost -9150 2782 Standard Cost AH AR AH SR SH SR 9,150 $20.40 9,150 $21.40 9,020 $21.40 $186,660.00 $195,810.00 $193,028.00 9150 6368 2782 Direct labor rate variance 9150 Favorable Direct labor efficiency variance 2782 Unfavorable Total direct labor variance $6,368 Favorable

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