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Problem 3 Prepare the Price and Quantity Variances for both Direct Materials and Labor 20 Points Direct Materials Standard Actual Production Price 10 dollars

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Problem 3 Prepare the Price and Quantity Variances for both Direct Materials and Labor 20 Points Direct Materials Standard Actual Production Price 10 dollars Price 10.50 Quantity 9 yards Quantity 8000 yards for 1000 units Actual Standard P Q P Q P Q QV Total Variance Direct Labor Standard Price(wage 20 dollars Actual Production PV Price 19.00 Quantity 3 hours Quantity 2500 hours for 1000 units Actual Standard P Q P Q P Q QV Total Variance PV

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