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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 $1.90 per pound) $17.10 Direct labor (4 hours at $10.00 per hour) $40.00 During the month of April, the company manufactures 160 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) 4,410 Direct labor (680 hours) $6,664 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 v arianceStep by Step Solution
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