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Pietro's Pizza has established the following standards for making one pizza: Dough: 0.6 pounds at $3 per pound Labor: 0.3 hours at $10 per hour
Pietro's Pizza has established the following standards for making one pizza: Dough: 0.6 pounds at $3 per pound Labor: 0.3 hours at $10 per hour Actual sales volume for the past month was 11,000 units. Actual dough and labor quantities and prices were as follows: Dough: 4,950 pounds (total) at $2.75 per pound Labor: 4,400 hours (total) at $15 per hour Required: (enter favorable and unfavorable variances as positive and negative numbers, without F or U) (a) What are the input price and quantity variances for dough? input price variance = $___________(enter negative numbers with a minus, i.e., negative $100 is -100, not ($100)) input quantity variance = $__________ (enter negative numbers with a minus) (b) What are the input price and quantity variances for labor? input price variance = $_______________ (enter negative numbers with a minus) input quantity variance = $ _____________ (enter negative numbers with a minus)
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