Direct materials price variance formulaDirect materials quantity variance formulaTotal direct materials cost varianceDirect labor rate varianceDirect labor time variance Total direct labor cost variance

x CengageNOWv2 | Online tex now.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Print Item Standard Amount per Case ? Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 12 lbs. 8 Ibs. $7.25 Sugar 10 Ibs. 14 lbs. 1.40 Standard labor time 0.50 hr. 0.60 hr. Dark Chocolate Light Chocolate Planned production 4,700 cases 11,000 cases Standard labor rate $15.50 per hr. $15.50 per hr. I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Dark Chocolate Light Chocolate Actual production (cases) 5,000 10,000 Actual Price per Pound Actual Pounds Purchased and Used Cocoa $7.33 140,300 Sugar 1.35 188,000 Actual Labor Rate Actual Labor Hours Used Dark chocolate $15.25 per hr. 2,360 Light chocolate 15.80 per hr. 6,120 Required: 0 more Check My Work uses remaining. Previous 15 O