accounting 102

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs $14 per hour Actual labor rate $260 per ton Actual materials price $13.50 per hour Standard labor rate $262 per ton Standard materials price Quantities Actual hours incurred and used 4,600 hours Actual quantity of materials purchased and used 1,800 tons Standard hours used 4,640 hours Standard quantity of materials used 1,780 tons (a) Compute the total, price, and quantity variances for materials and labor. $ Total materials variance Materials price variance Materials quantity variance tA tA tA