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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 $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 | $211 | per ton | |
Standard labor rate | $13 | per hour | |
Standard materials price | $213 | per ton |
Quantities | ||
Actual hours incurred and used | 4,579 hours | |
Actual quantity of materials purchased and used | 1,336 tons | |
Standard hours used | 4,661 hours | |
Standard quantity of materials used | 1,324 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
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