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Identify if favorable, unfavorable or neither for all of them. Levine Inc., which produces a single product, has prepared the following standard cost sheet for
Identify if favorable, unfavorable or neither for all of them.
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $15.00 $65.00 Direct materials (10 pounds at $1.50 per pound) Direct labor (5 hours at $13.00 per hour) During the month of April, the company manufactures 180 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $4,250 $11,904 Direct labor (930 hours) Compute the total, price, and quantity variances for materials and labor. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance Neither favorable nor unfavorable Favorable Unfavorable sStep by Step Solution
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