Question
Pietro's Pizza has established the following standards for making one pizza: Dough: 0.55 pounds at $2 per pound Labor: 0.15 hours at $10 per hour
Pietro's Pizza has established the following standards for making one pizza: Dough: 0.55 pounds at $2 per pound Labor: 0.15 hours at $10 per hour Actual sales volume for the past month was 12,000 units. Actual dough and labor quantities and prices were as follows: Dough: 6,000 pounds (total) at $1.75 per pound Labor: 2,400 hours (total) at $12 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? materials price variance = $ (enter negative numbers with a minus, i.e., negative $100 is -100, not ($100)) materials quantity variance = $ (enter negative numbers with a minus) (b) What are the input price and quantity variances for labor? labor rate variance = $ (enter negative numbers with a minus) labor efficiency variance = $ (enter negative numbers with a minus)
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