Knowledge Check

The standard cost of Product $21$ includes three hours of direct labor at $$12\mathrm{.}00$ per hour. During July, the company incurred $3,660$ hours of direct labor at an average rate of $$12\mathrm{.}50$ per hour. It produced $1,250$ units. Compute the price and quantity variances for labor.

Labor price variance

$

Labor quantity variance

$