Question
Sheridan Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at
Sheridan Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (9 pounds at $3.80 per pound) $34.20
Direct labor (5 hours at $11.00 per hour) $55.00
During the month of April, the company manufactures 260 units and incurs the following actual costs.
Direct materials purchased and used (2,100 pounds) $8,190
Direct labor (1,310 hours) $14,148
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 $
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