Read and analysis

.1, The ABC Company has a standard cost system. In Jul},r the company purchased and used 21,400 pounds of direct material at an actual cost of $56,000; the materials quantity variance was $1,560 Unfavorable; and the standard quantity of materials allowed for July production was 20,3 50 pounds. Compute the materials price variance for July. 2, The following labor standards have been established for a particular product: Standard Labor hours per unit of output 3.00 hours Standard Labor rate 8 11.45 per hour The Following Data pertain to operations concerning the product for the last month: Actual Hours Worked 8,200 hours Actual Total Labor Cost $ 91,120 Actual Output 1,350 units Determine the variance and evaluate the cause of labor efciency variance for the month. 3. The ABC Company has a standard cost system. In Jul}.r the company purchased and used 18,200 pounds of direct material at an actual cost of $52,000; the materials quantityF variance was $1,400 Unfavorable; and the standard quantity of materials allowed for J uly production was 19,21 5 pounds. Compute the materials price variance for July. 4. The following labor standards have been established for a particular product: Standard Labor Hours per unit of output 2.00 hours Standard labor rate $ 12.40 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 7,200 hours Actual Total labor cost$ 88,000 Actual Output 1,550 units Determine the variance and evaluate the cause of labor efciency variance for the month