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.

Exercise 25-7 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) Direct labor (4 hours at $10.00 per hour) During the month of April, the company manufactures 160 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) Direct labor (680 hours) Compute the total, price, and quantity variances for materials and labor. Total materials variance Materials price variance 17.10 40.00 $4,410 $6,664 Materiais quantity variance Total labor variance Labor price variance Labor quantity variance