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Ace Pharma Corporation makes a product with the following standard costs: Standard Standard Quantity Price or Inputs or hours Rate Direct Materials 4.8 grams $7.10

Ace Pharma Corporation makes a product with the following standard costs:

Standard

Standard

Quantity

Price or

Inputs

or hours

Rate

Direct Materials

4.8

grams

$7.10

per gram

Direct Labor

0.6

hours

$14.00

per hour

Actual results in June:

Units produced

4,200

units

Grams used in process

21,830

grams

Direct Labor hours

2,680

hours

Grams purchased

24,100

grams

Price paid

$6.80

per gram

Direct labor rate

$14.60

per hour

Required:

A. Compute the materials quantity variance.

B. Compute the materials price variance.

C. Compute the labor efficiency variance.

D. Compute the direct labor rate variance.

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