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The Toledo Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $4 per gallon) Direct labor (2 hours
The Toledo Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $4 per gallon) Direct labor (2 hours @ $12 per hour) $12 $24 During the period, the company produced and sold 22,000 units, incurring the following costs: Direct material Direct labor 69,000 gallons @ $ 3.9 per gallon 44,500 hours @ $11.75 per hour The direct material price variance was
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