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The following direct materials and direct labor data pertain to the operations of Ivanhoe Company for the month of August. table [ [ Costs
The following direct materials and direct labor data pertain to the operations of Ivanhoe Company for the month of August.
tableCostsActual labor rate,$perhour,Actual materials price,$perton,Standard labor rate,$perhour,Standard materials price,$perton,QuantitiesActual hours incurred and used, hoursActual quantity of materials purchased and used, tonsStandard hours used,,, hoursStandard quantity of maials used,, tons
a
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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