6 6 Data Section 8 8 Materials price variance input 9 9 Actual cost of material per pound (ounce, etc.) 10 10 Standard cost of mat. per pound (ounce, etc. 12 12 Materials quantity variance input 13 13 Actual quantity of materials used 14 14 Standard quantity of ma used for actual output 15 15 16 16 Labor rate variance input 17 17 Actual cost of labor per hour 18 18 Standard cost of labor per hour 19 19 20 20 Labor efficiency variance input 21 21 Actual quantity of hours incurred 22 22 Standard quantity of hours for actual output 23 23 24 24 25 25 Answer Section 26 26 27 27 28 28 Material price variance 29 29 Material quantity variance 30 30 31 31 Total materials variance 32 32 33 33 Labor rate variance 34 34 Labor efficiency variance 35 35 36 36 Total labor variance 37 37 38 38 Total materials and labor variances 39 39 40 40 41 FORMULA FORMULA FORMULA4 FORMULA5 $15.90 $16.00 39,500 38.000 $8.05 $8.00 44,000 45,600 ndicate For U only FORMULA8 FORMULA9 FORMULA3 FORMULA 10 FORMULA11 FORMULA12 FORMULA6 FORMULA 13 FORMULA7