QUESTION:

ANSWER FORMAT:

Exercise 11-7 Inc., which produces a single product, Levine has prepared the following standard cost sheet for one unit of the product Direct materials (8 pounds at $3.30 per pound) $26.40 Direct labor (1 hours at $12.00 per hour) $12.00 During the month of April, the company manufactures 240 units and incurs the following actual costs Direct materials purchased and used (2,300 pounds) $8,050 $3,304 Direct labor (280 hours) Compute the total, price, and quantity variances for materials and labor. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance LINK TO TEXT LINK TO TEXT