Exercise 11-6 (Video) Lewis Company's standard labor cost of producing one unit of Product DD 3.30 hours at the rate of $12.40 per hour. During August, 43,900 hours of labor are incurred at a cost of $12.60 per hour to produce 13,100 units of Product DD. (a) Compute the total labor variance. Total labor variance (b) Compute the labor price and quantity variances Labor price variance $ Labor quantity variance (c) Compute the labor price and quantity variances, assuming the standard is 3.70 hours of direct labor at $12.70 per hour. Labor price variance I Labor quantity variance $ LINK TO TEXT VIDEO: SIMILAR EXERCISE