The standard cost of Product B manufactured by Sheridan Company includes 3 units of direct materials at $5.00 per unit. During June, 25,600 units of direct materials are purchased at a cost of $4.70 per unit, and 25,600 units of direct materials are used to produce 8,320 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance $ Materials price variance $ Materials quantity variance $ (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.15 and the quantity purchased and used is 24,800 units. Total materials variance $ Materials price variance $ Materials quantity variance $ Current Attempt in Progress Susan Company's standard labor cost per unit of output is $26.00 (2.00 hours x $13.00 per hour). During August, the company incurs 2,600 hours of direct labor at an hourly cost of $12.80 per hour in making 1,260 units of finished product. Compute the total, price, and quantity labor variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) Total labor variance $ Labor price variance $ Labor quantity variance $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer The standard cost of Product B manufactured by Sheridan Company includes 3 units of direct materials at $5.00 per unit. During June, 25,600 units of direct materials are purchased at a cost of $4.70 per unit, and 25,600 units of direct materials are used to produce 8,320 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance $ Materials price variance $ Materials quantity variance $ (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.15 and the quantity purchased and used is 24,800 units. Total materials variance $ Materials price variance $ Materials quantity variance $