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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 (9pounds at $1.80per
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (9pounds at $1.80per pound)$16.20Direct labor (6hours at $14.00per hour)$84.00
During the month of April, the company manufactures270units and incurs the following actual costs.
Direct materials purchased and used (2,500pounds)$5,000Direct labor (1,660hours)$22,908
Compute the total, price, and quantity variances for materials and labor.
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