A manufactured product has the following information for June.
Standard Quantity and Cost
Actual Results
Direct materials 7 pounds @ $8 per pound 60,800 pounds @ $8.10 per pound
Direct labor 2 DLH @ $17 per DLH 16,900 hours @ $17.60 per hour
Overhead 2 DLH @ $13 per DLH $ 229,200
Units manufactured 8,600 units
Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by
selecting favorable, unfavorable, or no variance. Round \"Cost per unit\" answers to 2 decimal places.)
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Actual Cost
Standard Cost