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The following direct materials and direct labor data pertain to the operations of Laurel Company for...

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Costs
Actual labor rate $14 per hour
Actual materials price $270 per ton
Standard labor rate $13.50 per hour
Standard materials price $274 per ton

Quantities
Actual hours incurred and used 4,900 hours
Actual quantity of materials purchased and used 1,200 tons
Standard hours used 4,980 hours
Standard quantity of materials used 1,180 tons


(a)

Compute the total, price, and quantity variances for materials and labor.

Total materials variance $

  Favorable, Unfavorable, or neither favorable or unfavorable
Materials price variance $

Favorable, Unfavorable, or neither favorable or unfavorable
Materials quantity variance $

  Favorable, Unfavorable, or neither favorable or unfavorable
Total labor variance $

  Favorable, Unfavorable, or neither favorable or unfavorable
Labor price variance $

  Favorable, Unfavorable, or neither favorable or unfavorable
Labor quantity variance $ Favorable, Unfavorable, or neither favorable or unfavorable

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ekkarill92 answered 2 years ago
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