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E23-2A. Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units

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E23-2A. Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product: Actual costs Standard costs 4,000 lb. $5.10 6,000 hrs. @ $8.70 3,900 lb. @ $5.30 6,200 hrs. @ $8.40 Direct material Direct labor Determine the following variances: Materials price c. Labor rate b. Materials efficiency d. Labor efficiency a

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