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Question 2. (input price and quantity variances) Pietro's Pizza has established the following standards for making one pizza: 0.7 pounds at $3 per pound Dough:
Question 2. (input price and quantity variances) Pietro's Pizza has established the following standards for making one pizza: 0.7 pounds at $3 per pound Dough: 0.25 hours at $8 per hour Labor: Actual sales volume for the past month was 12,000 units. Actual dough and labor quantities and prices were as follows: Dough: 7,200 pounds (total) at $2.5 per pound Labor: 4,200 hours (total) at $11 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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