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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 at
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 $2.20 per pound) $22.00 Direct labor (4 hours at $10.00 per hour) $40.00 During the month of April, the company manufactures 260 units and incurs the following actual costs. Direct materials purchased and used (1,900 pounds) $4,370 Direct labor (1,080 hours) $10,584 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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