eBook Maberials Variances Cinturon Corporation produces high-quality lesther belts. The company's plant in Boise uses a standard costing system and has set the following standerds for materiels and labor Leather (3 strips s4) Direct labor (0.75 hr.$12) Total prime cost During the first month of the year, the Boise plant produced 92.000 belts. Actual leather purchased was 277,500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 79,500 hours at $12.50 per hour $12.00 9.00 $21.00 1. Break down the total variance for materiols into a price voriance and a usage variance using the columnar and formuls approoches. Enter favorable values s negative numbers and