Actual Cost of Direct Materials	$ 225,000
Standard Cost of Direct Materials	$ 224,800
Actual Materials Used	30
Standard Materials Used	31
Actual Direct Labor Rate	$ 15.50
Standard Labor Rate	$ 15.00
Actual Hours Worked	45
Standard Hours Worked	40
	Amount	Favorable/ Unfavorable
Calculate Materials Variances:
Materials Price Variance
Materials Quantity Variance
Calculate Labor Variances:
Labor Rate Variance
Labor Efficiency Variance

• Calculate the material variances.
• Calculate the labor variances.