Question
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 select a type of the variance Materials price variance $enter a dollar amount select a type of the variance Materials quantity variance $enter a dollar amount select a type of the variance Total labor variance $enter a dollar amount select a type of the variance Labor price variance $enter a dollar amount select a type of the variance Labor quantity variance
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