Cost accounting: Variances: solve this problem using word or excel (no handwriting please).

Calculate the relevant variances for Emilyco's hair salon: STANDARDS Ounces of hair product Labor Price Haircuts expected for April 320 Wages 3 per haircut 20 minutes per haircut $75 per haircut $25 per hour $0.50 per ounce Hair product cost ACTUAL Ounces of hair product Labor Revenues Haircuts in April Wages 980 purchased and used 115 hours $21,600 300 $2500 $600 Hair product cost