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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 $3.90 per pound) $35.10 Direct labor (3 hours at $11.00 per hour) $33.00 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1, 900 pounds) $7, 600 Direct labor (700 hours) $7, 630 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ 24586 Favorable Materials price variance $ -66690 Unfavorable Materials quantity variance $ 19000 Favorable Total labor variance $ -56821 Unfavorable Labor price variance $ 36843 Favorable Labor quantity variance $ 154369 Unfavorable
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