Materials and Labor Variances Deporte Company produces single-colored t-shirts. Materials for the shirts re dyed in large vats. After dying the materials for a given color, the vats must be cleanednd prepared for the naxt batch of materials to be colored. The followng standards for changeover for a given batch have been established Direct materials (2.4 lbs. $o.95) Direct labor (0.75 hr.$7.40) Standard prime cost During the year, 79,500 pounds of material were purchased and used for the changeover actvity. There were 30,000 batch produced, with the following actual prime costs! Direct materials Direct labor Required: Compute the matarials and labor variances associatad with the changcover activity, labaling aach variance as favorable or unfavorable LGO LGO LGO LGO LGO 2.28 5.55 $7.83 72,450 186,259 (for 22,450 hrs.) Pice variance Labor Variances Check My Work Previous Next 5/6 itemsS save and xt submit Assignment for Grading