Question
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 $1.80 per pound) | $10.80 | |
Direct labor (4 hours at $13.00 per hour) | $52.00 |
During the month of April, the company manufactures 170 units and incurs the following actual costs.
Direct materials purchased and used (1,900 pounds) | $3,610 | |
Direct labor (720 hours) | $9,288 |
Compute the total, price, and quantity variances for materials and labor.
Total materials variance | $enter a dollar amount | select an option Neither favorable nor unfavorableUnfavorableFavorable | ||
---|---|---|---|---|
Materials price variance | $enter a dollar amount | select an option Neither favorable nor unfavorableFavorableUnfavorable | ||
Materials quantity variance | $enter a dollar amount | select an option UnfavorableNeither favorable nor unfavorableFavorable | ||
Total labor variance | $enter a dollar amount | select an option UnfavorableNeither favorable nor unfavorableFavorable | ||
Labor price variance | $enter a dollar amount | select an option Neither favorable nor unfavorableFavorableUnfavorable | ||
Labor quantity variance | $enter a dollar amount | select an option Neither favorable nor unfavorableUnfavorableFavorable |
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