The following direct materials and direct labor data pertain to the operations of Laurel Company for the Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $12 per hour $100 per ton $11.50 per hour $101 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 3,500 hours 1,000 tons 3,540 hours 990 tons 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 Ceelo Company purchased (at a cost of $8,910) and used 1,800 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 820 units a) Compute the total, price, and quantity variances for materialsRand answers to 0 de nal places, 4 125J Total Materials Variance$ Materials Price Varlance Materials Quantity Variance eTextbook and Media