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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 $2.90 per pound) Direct labor (3 hours at $13.00 per hour) $29.00 $39.00 During the month of April, the company manufactures 350 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) Direct labor (1,080 hours) $6,510 $13,932 Compute the total, price, and quantity variances for materials and labor. Total materials variance + Materials price variance Materials quantity variance TA Total labor variance Labor price variance A Labor quantity variance
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