The following direct materials and direct labor data pertain to the operations of Laurel Company...
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The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs $13 per hour Actual labor rate Actual materials price $220 per ton $12.50 per hour Standard labor rate Standard materials price $224 per ton Quantities Actual hours incurred and used 4,200 hours Actual quantity of materials purchased and used 1,600 tons Standard hours used 4,280 hours Standard quantity of materials used 1,580 tons a) Compute the total, price, and quantity variances for materials and labor Total materials variance $ Materials price variance $ $ Materials quantity variance Total labor variance $ Labor price variance $ $ Labor quantity variance
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