Land of Cookies Actual Total Cost of Direct Materials Standard Total Cost of Direct Materials Actual Materials Used Standard Materials Used Actual Direct Labor Rate Standard Labor Rate Actual Hours Worked Standard Hours Worked Calculate Materials Variances: $ es es $ 225,000 224,800 30 31 es es $ 15.50 $ 15.00 45 40 Amount Favorable/ Unfavorable Materials Price Variance $ (6,000) Unfavorable Materials Quantity Variance $ (224,800) Favorable (224800-225000)*30 =(30-31)*224800 Calculate Labor Variances: Labor Rate Variance $ 23 Unfavorable (15.50-15)*45 Labor Efficiency Variance $ (225) Unfavorable =(40-45)*45