ontrol costs P&G company produces large size bags for the use of tourists. Company uses standard costing system to c The standards for materials and labor costs to manufacture 1 bag are as follows: . Direct materials: 7.2 lbs. per bag $5 per lb. Direct labor: 0.4 hours per bag @$20 per hour e During the last month, P&G produced 2,500 large bags. 20,000 lbs. of direct They used all direct materials to make the 2,500 large bags 90 materials were purchased @ $4.8 per lb. 0 direct labor hours were recorded @ $24 per hour. Required: 3. 4. Compute the Total Variance, Price Variance and Quantity Variance for direct materials Compute Total Variance, Rate Variance and Efficiency Variance for direct labor ontrol costs P&G company produces large size bags for the use of tourists. Company uses standard costing system to c The standards for materials and labor costs to manufacture 1 bag are as follows: . Direct materials: 7.2 lbs. per bag $5 per lb. Direct labor: 0.4 hours per bag @$20 per hour e During the last month, P&G produced 2,500 large bags. 20,000 lbs. of direct They used all direct materials to make the 2,500 large bags 90 materials were purchased @ $4.8 per lb. 0 direct labor hours were recorded @ $24 per hour. Required: 3. 4. Compute the Total Variance, Price Variance and Quantity Variance for direct materials Compute Total Variance, Rate Variance and Efficiency Variance for direct labor