A B D 1 2 PRIMEVAR Material and Labor Variances 3 4 $15.90 $16.00 39,500 38,000 $8.05 $8.00 5 Data Section 6 7 Materials price variance input 8 Actual cost of material per pound (ounce, etc.) 9 Standard cost of mat. per pound (ounce, etc.) 10 11 Materials quantity variance input 12 Actual quantity of materials used 13 Standard quantity of mat. used for actual output 14 15 Labor rate variance input 16 Actual cost of labor per hour 17 Standard cost of labor per hour 18 19 Labor efficiency variance input 20 Actual quantity of hours incurred 21 Standard quantity of hours for actual output 22 23 Answer Section 24 25 26 Material price variance FORMULA1 27 Material quantity variance FORMULA2 28 29 Total materials variance 30 31 Labor rate variance FORMULA4 32 Labor efficiency variance FORMULA5 33 34 Total labor variance 35 36 Total materials and labor variances 44,000 45,600 For U FORMULAS FORMULAS FORMULA3 FORMULA10 N/A FORMULA6 FORMULA7 N/A 37 38 39 40