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The January figures for purchasing, production, and labor are: The company purchased 229,000 pounds of raw materials in January at a cost of 78c a

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The January figures for purchasing, production, and labor are: The company purchased 229,000 pounds of raw materials in January at a cost of 78c a pound. Production used 229,000 pounds of raw materials to make 115,500 units in January. Direct labor spent 18 minutes on each product at a cost of $7.80 per hour. Overhead costs for January totaled $54,673 variable and $73,800 fixed. Answer the following questions about standard costs. What is the materials price variance? What is the materials quantity variance? What is the total materials variance? What is the labor price variance? What is the labor quantity variance? What is the total labor variance? What is the total overhead variance

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