A manufactured product has the following information for June. Standard Actual Direct materials 6…

A manufactured product has the following information for June. Standard Actual Direct materials 6…
A manufactured product has the following information for June. Standard              Actual Direct materials                6 lbs. @ $9 per lb.                             43,600   lbs. @ $9.20 per lb. Direct labor         3 hrs. @ $17 per hr.                         21,400   hrs. @ $17.40 per hr. Overhead            3 hrs. @ $13 per hr.         $              287,000 Units manufactured                                       7,200     Exercise 21-9 Direct materials variances LO P3   Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round “Cost per unit” answers to 2 decimal places.)   AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price May 16 2022 03:11 PM

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