Question
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $14
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $14 per hour Actual materials price $270 per ton Standard labor rate $13.50 per hour Standard materials price $274 per ton Quantities Actual hours incurred and used 4,900 hours Actual quantity of materials purchased and used 1,200 tons Standard hours used 4,980 hours Standard quantity of materials used 1,180 tons (a) Compute the total, price, and quantity variances for materials and labor. Total materials variance $enter a dollar amount select an option Materials price variance $enter a dollar amount select an option Materials quantity variance $enter a dollar amount select an option Total labor variance $enter a dollar amount select an option Labor price variance $enter a dollar amount select an option Labor quantity variance $enter a dollar amount
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