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The following direct materials and direct labor data pertain to the operations of Pharoah Company for the month of August. Costs Actual labor rate $
The following direct materials and direct labor data pertain to the operations of Pharoah Company for the month of August.
Costs | |||
---|---|---|---|
Actual labor rate | $ 13 | per hour | |
Actual materials price | $ 110 | per ton | |
Standard labor rate | $ 12.50 | per hour | |
Standard materials price | $ 111 | per ton |
Quantities | ||
---|---|---|
Actual hours incurred and used | 4,500 hours | |
Actual quantity of materials purchased and used | 1,600 tons | |
Standard hours used | 4,580 hours | |
Standard quantity of materials used | 1,575 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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