Question 6 of 8 < > View Policies Current Attempt in Progress The following direct materials and direct labor data pertain to the operations of Concord Company for the month of August. Actual labor rate Actual materials price Standard labor rate Standard materials price (a) Costs Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used Total materials variance Materials price variance Total labor variance Materials quantity variance Labor price variance $20.20 $150.00 $17.20 $152.00 Quantities Compute the total, price, and quantity variances for materials and labor. Labor quantity variance eTextbook and Media Save for Later $ $ $ $ per hour per ton per hour per ton $ $ 5.240 hours 1,456 tons 5,600 hours 1,420 tons -/6 = Neither favorable nor unfavorable Unfavorable Favorable Attempts: 0 of 2 used Submit Answer