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Setting Standards, Materials and Labor Variances standard costing system. reflect current conditions. The standards she developed for one square foot of counter installed were as

image text in transcribedimage text in transcribed Setting Standards, Materials and Labor Variances standard costing system. reflect current conditions. The standards she developed for one square foot of counter installed were as follows: These standards assumed that one seamless counter requires one sink cut (the space into which the sink will fit) as well as cutting the counter to fit the space available. The following information on actual amounts used and cost was gathered: The actual wage rate for cutting and installation labor remained unchanged from the standard rate. If an amount is zero, enter " 0 " and select neither from the dropdown. 1. Calculate the materials price variances and materials usage variances for granite and for glue for the past 6 months. 2. Calculate the labor rate variances and labor efficiency variances for cutting labor and for installation labor for the past 6 months. 3. Conceptual Connection: Would it be worthwhile for Charlene to establish standards for atypical jobs (such as those with more than one sink cut or wider than normal)

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