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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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