Culver Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound) $12 Direct labor (2 hours at $12 per hour) $24 During the month of April, the company manufactures 490 units and incurs the following actual costs. Direct materials purchased and used (3,180 pounds) $6,996 Direct labor (1,000 hours) $11,500 Compute the total, price, and quantity variances for materials and labor. Identify whether each variance is favorable or unfavorable. Materials Labor Total Variance $enter a dollar amount select an option $enter a dollar amount select an option Price Variance $enter a dollar amount select an option $enter a dollar amount select an option Quantity Variance $enter a dollar amount select an option $enter a dollar amount select an option

View Policies Current Attempt in Progress Culver Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound) $12 Direct labor (2 hours at $12 per hour) $24 During the month of April, the company manufactures 490 units and incurs the following actual costs. Direct materials purchased and used (3,180 pounds) $6,996 Direct labor (1,000 hours) $11,500 Compute the total, price, and quantity variances for materials and labor. Identify whether each variance is favorable or unfavorable. Materials Labor Total Variance $ $ Price Variance $ $ Quantity Variance $ $ Textbook and Media