Information for a company's production activities for this year follows.
Standard quantity and price per unit for direct materials
Standard quantity and rate per unit for direct labor
Actual direct materials used
Actual direct labor used
Actual units produced
Actual Hours
Standard Hours
Actual Rate
Standard Rate
Actual Quantity
Standard Quantity
Actual Price
Standard Price
pounds $ per pound
hours $ per hour
pounds $ per pound
hours $ per hour
units
hours at $ per hour pounds at $ per pound hours at $ per hour units
Complete this question by entering your answers in the tabs below.
Required
Calculate the direct materials price and quantity variances. Indicate whether each is favorable or unfavorable.
Note: Indicate the effect of each variance by selecting favorable, unfaworable, or no variance.
