Levine Inc., which produces a single product, has prepared the following standard cost sheet for one...
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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 (9 pounds at $3.90 per pound) $35.10 Direct labor (6 hours at $13.00 per hour) $78.00 During the month of April, the company manufactures 220 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $10,250 Direct labor (1,340 hours) $17,152 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ Labor price variance $ Labor quantity variance $ > > > > Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $3.90 per pound) $35.10 Direct labor (6 hours at $13.00 per hour) $78.00 During the month of April, the company manufactures 220 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $10,250 Direct labor (1,340 hours) $17,152 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ Labor price variance $ Labor quantity variance $ > > > >
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