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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$13per hour
Actual materials price
$131per ton
Standard labor rate
$12per hour
Standard materials price
$134per ton

Quantities

Actual hours incurred and used
3,502 hours
Actual quantity of materials purchased and used
1,948 tons
Standard hours used
3,562 hours
Standard quantity of materials used
1,934 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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Total Material Variances SQ SR AQAR 1934134 1948 131 259156 255188 3968 ... blur-text-image

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