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Betty s Bakery has the following standard cost sheet for one unit of its most popular cake: SQ SP Direct materials 1 . 2 pounds

Bettys Bakery has the following standard cost sheet for one unit of its most popular cake:
SQ SP
Direct materials 1.2 pounds $ 1.50 per pound
Direct labor 0.8 hours $ 12.00 per hour
During the month of May, the company made 760 cakes and incurred the following actual costs.
Direct materials purchased and used (1,060 pounds) $1,378
Direct labor (820 hours) $9,430
Required:
1. Calculate the direct materials price variance.
2. Calculate the direct materials quantity variance.
3. Calculate the direct materials variance.
4. Calculate the direct labor rate variance.
5. Calculate the direct labor efficiency variance.
6. Calculate the direct labor spending variance.Bettys Bakery has the following standard cost sheet for one unit of its most popular cake:
SQ SP
Direct materials 1.2 pounds $ 1.50 per pound
Direct labor 0.8 hours $ 12.00 per hour
During the month of May, the company made 760 cakes and incurred the following actual costs.
Direct materials purchased and used (1,060 pounds) $1,378
Direct labor (820 hours) $9,430
Required:
1. Calculate the direct materials price variance.
2. Calculate the direct materials quantity variance.
3. Calculate the direct materials variance.
4. Calculate the direct labor rate variance.
5. Calculate the direct labor efficiency variance.
6. Calculate the direct labor spending variance.Bettys Bakery has the following standard cost sheet for one unit of its most popular cake:
SQ SP
Direct materials 1.2 pounds $ 1.50 per pound
Direct labor 0.8 hours $ 12.00 per hour
During the month of May, the company made 760 cakes and incurred the following actual costs.
Direct materials purchased and used (1,060 pounds) $1,378
Direct labor (820 hours) $9,430
Required:
1. Calculate the direct materials price variance.
2. Calculate the direct materials quantity variance.
3. Calculate the direct materials variance.
4. Calculate the direct labor rate variance.
5. Calculate the direct labor efficiency variance.
6. Calculate the direct labor spending variance.

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