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Crane Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials ( 6 pounds
Crane Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials pounds at $ per pound$
Direct labor hours at $ per hour$
During the month of April, the company manufactures units and incurs the following actual costs.
Direct materials purchased and used pounds$
Direct labor hours
$
Compute the total, price, and quantity variances for materials and labor.
Total materials variance
$
Materials price variance
Materials quantity variance
Total labor variance
$
Compute the total, price, and quantity variances for materials and labor.
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