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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 (10 pounds
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (10 pounds at $3.40 per pound) $34.00 Direct labor (6 hours at $12.00 per hour) $72.00 During the month of April, the company manufactures 340 units and incurs the following actual costs. Direct materials purchased and used (2.500 pounds) $8,750 Direct labor (2,080 hours) $24.544 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ Materials price variance S Materials quantity variance $ $ 69 Total labor variance Labor price variance SA > < >
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