ttempt in Progress Riggins, Inc, manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Riggins estimated 9.500 tybos would be produced in March Riggins has established the following material and tabor standards to produce one tybos Direct materials Direct labor Standard Quantity 25 pounds 0.6 hours Standard Price $3 per pound $10 per hour During March 2019. the following activity was recorded by the company relating to the production of tybos: 1 2 The company produced 9,000 units during the months A total of 24.000 pounds of materials were purchased at a cost of $66.000 A total of 24,000 pounds of materials were used in production 5.000 hours of labor were incurred during the month at a total wage cost of $55.000 Calculate the following variances for March for Risins, Inc. Identify whether the variance is favorable or unfavorable? Materials Price Variance $ b) Materials Quantity Vaciance $ c) 5 Labor Price Variance $ (d) Labor Quantity Varlance Attempts: 0 of 1 used Sciumit Answer Save for later