Required information [The following information applies to the questions displayed below] A manufactured product has the following information for June

Management Dec 14, 2020

Required information [The following information applies to the questions displayed below]
A manufactured product has the following information for June.
Standard Actual Direct materials (5 lbs. @ $9 per lb.) 39,500 lbs. @ $9.20 per lb. Direct labor (2 hrs. @ $16 per hr.) 15,300 hrs. @ $16.50 per hr. Overhead (2 hrs. @ $12 per hr.) $192,300 Units manufactured 7,800
AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.
Actual Cost Standard Cost $ 0 $ 0 $ 0 0

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