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Your answer is partially correct. Try again. The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 per hour $270 per ton $12.50 per hour $272 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 3,700 hours 1,100 tons 3,740 hours 1,075 tons (a) Compute the total, price, and quantity variances for materials and labor. Total materials variance 2200 Favorable Materials price variance 6800 Unfavorable Materials quantity variance 4600 Favorable Total labor variance 1850 Unfavorable su Labor price variance 500 X Favorable Labor quantity variance 1350 Unfavorable LINV TO TEYT ITNV TO TEYT