CALS en A *Exercise 11-7 (Video) Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product SOURS Direct materials (8 pounds at $2.40 per pound) $19.20 hework Direct labor (5 hours at $12.00 per hour) $60.00 11-5 During the month of April, the company manufactures 260 units and incurs the following actual costs. = 11-6 e 1102 Direct materials purchased and used (2,400 pounds) $6,240 Direct labor (1,310 hours) $15,458 se 11.11 -6 (Video) Compute the total, price, and quantity variances for materials and labor. 1-7 (Video LIZ 1 1A (Vides Total materials variance bre Materials price variance esults by Stu Materials quantity variance Total labor variance Labor price variance Labor quantity variance