6 Materials price variance input 9 Actual cost of material per pound (ounce, etc) 10 Standard cost of mat. per pound (ounce, etc.) 11 12 Materials quantity variance input $15.90 $16.00 13 Actual quantity of materials used 39,500 14 15 Standard quantity of mat. used for actual output 38,000 16 Labor rate variance input 17 Actual cost of labor per hour 18 Standard cost of labor per hour $0.05 $0.00 10 22 23 24 25 Answer Section: 26 20 Labor efficiency variance input 21 Actual quantity of hours incurred 44,000 Standard quantity of hours for actual output 45,000 27 28 Material price variance FORMULA1 29 Material quantity variance FORMULA2 Indicate For U only SELECT ONE SELECT ONE 30 31 Total materials variance FORMULA SELECT ONE 32 33 Labor rate variance 34 Labor efficiency variance 35 36 Total labor variance 37 38 Total materials and labor variances 39. FORMULA4 SELECT ONE FORMULAS SELECT ONE FORMULAS SELECT ONE FORMULAT