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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
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 $3.70 per pound) $33.30 Direct labor (5 hours at $11.00 per hour) $55.00 During the month of April, the company manufactures 340 units and incurs the following actual costs. Direct materials purchased and used (1,500 pounds) $5,850 Direct labor (1,730 hours) $18,684 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ |:| Unfavorable db Materials price variance $ Unfavorable G Materials quantity variance $ Unfavorable G Total labor variance $ Favorable 3 Labor price variance $ Favorable : db Labor quantity variance $ Unfavorable
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