direct materials: 8 microns per toy at .32 direct labor 1.2 hours per toy at 6.80 per hour

during July the company produced 5200 maze toys

direct material 80,000 microns were purchased at a cost of .29 per micro . 28000 of these microns were still in inventory at the end of the month.

direct labor 6740 direct labor hours were worked at a cost of 48528. compute the following variance for July

a. the material price and quantity variance

b. the labor rate and efficiency variances