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Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (8 pounds at $3.30 per pound) | $26.40 | |
Direct labor (1 hours at $12.00 per hour) | $12.00 |
During the month of April, the company manufactures 240 units and incurs the following actual costs.
Direct materials purchased and used (2,300 pounds) | $8,050 | |
Direct labor (280 hours) | $3,304 |
Compute the total, price, and quantity variances for materials and labor.
Total materials variance | $enter a dollar amount | |||
---|---|---|---|---|
Materials price variance | $enter a dollar amount | |||
Materials quantity variance | $enter a dollar amount | |||
Total labor variance | $enter a dollar amount | |||
Labor price variance | $enter a dollar amount | |||
Labor quantity variance | $enter a dollar amount |
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