The following information describes production activities of mercer manufacturing for the year. actual direct materials used 24,000 lbs. at $4.45 per lb. actual direct labor used 6,505 hours for a total of $128,799 actual units produced 36,030 ah = actual hours sh = standard hours ar = actual rate sr = standard rate aq = actual quantity sq = standard quantity ap = actual price sp = standard price budgeted standards for each unit produced are 0.50 pounds of direct material at $4.40 per pound and 10 minutes of direct labor at $20.80 per hour.

(1) compute the direct materials price and quantity variances.

(2) compute the direct labor rate and efficiency variances. indicate whether each variance is favorable or unfavorable.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan