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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 $13

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

Costs

Actual labor rate $13 per hour
Actual materials price $290 per ton
Standard labor rate $12.50 per hour
Standard materials price $292 per ton

Quantities

Actual hours incurred and used 4,200 hours
Actual quantity of materials purchased and used 1,000 tons
Standard hours used 4,290 hours
Standard quantity of materials used 990 tons

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

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