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Coronado Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

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Direct materials $(10$ pounds at $$3\mathrm{.}40$ per pound$)$ $$34\mathrm{.}00$

Direct labor $(6$ hours at $$12\mathrm{.}00$ per hour$)$ $$72\mathrm{.}00$

During the month of April, the company manufactures $340$ units and incurs the following actual costs.

Direct materials purchased and used $(2,500$ pounds$),$$$8,750$

Direct labor $(2,080$ hours$)$

$$24,544$

Compute the total, price, and quantity variances for materials and labor.

Cole

Total materials variance

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