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Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $0.80 Actual quantity purchased and used in production

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Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $0.80 Actual quantity purchased and used in production 110 Standard quantity for units produced 120 Actual labor rate per hour $15 Standard labor rate per hour $13 Actual hours 210 Standard hours for units produced 240 A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive Material price variance $ Material quantity variance $ Labor rate variance $ Labor efficiency variance B. What are some possible causes for this combination of favorable and unfavorable variances

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