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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 $1.80 per pound) $16.20 Direct labor (6 hours at $14.00 per hour) $84.00 During the month of April, the company manufactures 270 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $5,000 Direct labor (1,660 hours) $22.908 Compute the total, price, and quantity variances for materials and labor. Total materials variance to Materials price variance Materials quantity variance $ Total labor variance Labor price variance Labor quantity variance
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