Exercise 11-6 (Video) Lewis Company's standard labor cost of producing one unit of Product DD is 3.10 hours at the rate of $12.50 per hour. During August, 42,000 hours of labor are incurred at a cost of $12.70 per hour to produce 13,400 units of Product DD. (a) Compute the total labor variance. Total labor variances (6) Compute the labor price and quantity variances. Labor price variance Labor quantity variances (c) Compute the labor price and quantity variances, assuming the standard is 3.30 hours of direct labor at $12.90 per hour. Labor price variance Labor quantity variances Click if you would like to show Work for this question: Open Show Work