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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 (6 pounds at
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $3.10 per pound) Direct labor (4 hours at $10.00 per hour) $18.60 $40.00 During the month of April, the company manufactures 190 units and incurs the following actual costs. $7,260 Direct materials purchased and used (2,200 pounds) Direct labor (770 hours) $7,623 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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