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The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $15

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Costs

Actual labor rate $15 per hour
Actual materials price $180 per ton
Standard labor rate $14.50 per hour
Standard materials price $184 per ton

Quantities

Actual hours incurred and used 4,000 hours
Actual quantity of materials purchased and used 1,300 tons
Standard hours used 4,090 hours
Standard quantity of materials used 1,290 tons

(a) Compute the total, price, and quantity variances for materials and labor.

Total materials variance $enter a dollar amount select a type of the variance Neither favorable nor unfavorableFavorableUnfavorable
Materials price variance $enter a dollar amount select a type of the variance UnfavorableNeither favorable nor unfavorableFavorable
Materials quantity variance $enter a dollar amount select a type of the variance FavorableNeither favorable nor unfavorableUnfavorable
Total labor variance $enter a dollar amount select a type of the variance UnfavorableFavorableNeither favorable nor unfavorable
Labor price variance $enter a dollar amount select a type of the variance UnfavorableFavorableNeither favorable nor unfavorable
Labor quantity variance $enter a dollar amount select a type of the variance FavorableNeither favorable nor unfavorableUnfavorable

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