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Actual Material 12,000 pounds purchased at $2.50 per pound; used 10,500 pounds Direct Labor 1,800...

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Accounting

Actual Material 12,000 pounds purchased at $2.50 per pound; used 10,500 pounds Direct Labor 1,800 hours at $12 per hour Units produced 500 Standard Material 20 pounds per unit at a price of $2.20 per pound Direct Labor 4 hours per unit at a wage rate of $10 per hour

a. Determine the material price variance based on the quantity of materials purchased. b. Determine the material quantity variance. c. Determine the direct labor rate variance. d. Determine the direct labor efficiency variance.

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