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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 |
| Actual labor rate | | $15 | per hour |
| Actual materials price | | $140 | per ton |
| Standard labor rate | | $14.50 | per hour |
| Standard materials price | | $142 | per ton |
| Quantities |
| Actual hours incurred and used | | 3,800 hours |
| Actual quantity of materials purchased and used | | 1,500 tons |
| Standard hours used | | 3,850 hours |
| Standard quantity of materials used | | 1,490 tons |
(a) Compute the total, price, and quantity variances for materials and labor.
| Total materials variance | | $enter a dollar amount | | select a type of the variance Neither favorable nor unfavorableFavorableUnfavorable |
| Materials price variance | | $enter a dollar amount | | select a type of the variance UnfavorableNeither favorable nor unfavorableFavorable |
| Materials quantity variance | | $enter a dollar amount | | select a type of the variance FavorableUnfavorableNeither favorable nor unfavorable |
| Total labor variance | | $enter a dollar amount | | select a type of the variance UnfavorableNeither favorable nor unfavorableFavorable |
| Labor price variance | | $enter a dollar amount | | select a type of the variance UnfavorableNeither favorable nor unfavorableFavorable |
| Labor quantity variance | | $enter a dollar amount | | select a type of the variance Neither favorable nor unfavorableFavorableUnfavorable |
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