7	A suit making company makes and sells mens suits
	The standard cost for a yard of material is $3.60
	Each suit requires a standard of 4 yards per suit.
	In one month they made 4800 suits.
	Actual material purchased and used was 21,120 yards at a total
	cost of $70,752 (3.35 per yard)
	Prepare the Material price (rate) and usage variances
8	The suits take a standard of 1.6 labor hours to make
	The standard labor rate is $16 per hour.
	The 4800 suits they made cost $100,800 for direct labor
	Actual rate is $15 per hour
	Prepare the Labor rate and labor Qty (usage) variances