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

Costs
Actual labor rate		$16	per hour
Actual materials price		$190	per ton
Standard labor rate		$15.50	per hour
Standard materials price		$192	per ton

Quantities
Actual hours incurred and used		4,000 hours
Actual quantity of materials purchased and used		1,400 tons
Standard hours used		4,070 hours
Standard quantity of materials used		1,390 tons

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

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

eTextbook and Media

Save for Later

Attempts: 0 of 3 used