z Exercise 8 - 13 Materials Price Variance (SP-AP) X AQ Purchased Materials Quantity Variance - (5Q - AQ Used) X SP (SQ 1:400-AQ_uid 20.00) X22:50 (1,400) x 42.50 (41000) unranaraoke * Sendand Quantity = 4.000 units X4 6105 pecunit: 18,4 A Direct Materials Spending Variance = licuo unlowdrobe (3.000-4.000-1.00 fania Labor Rate Variance = (SR - AR) X AH Labor Efficiency Variance = (SH - AH) X SR (*SH 800 -AH. 750) X $12.00 50 X N12.00 31.600 un Cavorable Standard Hours = 4,00 units 2o.2 hours = 8whrs. Direct Labor Spending Variance = $825 unouciable (-1,475-+600 821) COT Dana Varnor Chapter 8 Dart 2 Homework Chapter 8 Huron Company produces a commercial cleaning compound known as Zoom. The direct water EXERCISE 8-13 Direct Materials and Direct Labor Variances [LO8-4, LO8 5) direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials. Direct labor... 4.6 pounds 0.2 hours $2.50 per pound $12.00 per hour $11.50 $2.40 During the most recent month, the following activity was recorded: a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. b. All of the material purchased was used to produce 4,000 units of Zoom. 750 hours of direct labor time were recorded at a total labor cost of $10,425. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. c