Costs Quantities The direct materials and direct labor data shown below pertain

Question

Costs

Quantities

The direct materials and direct labor data shown below pertain to the operations of Laurel Manufacturing Company for the month of August.

Costs

Actual labor rate $15 per hour Actual materials price $243 per ton Standard labor rate $14 per hour Standard materials price $245 per ton

Quantities

Actual hours incurred and used 4,600 hours Actual quantity of materials purchased and used 1,378 tons Standard hours used 4,695 hours Standard quantity of materials used 1,361 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 $

Explanation / Answer

Working Notes:

Total MaterialVariance = (-) $1,409 Material Price Variance = (+) $2,756 Material Quantity Variance = (-) $4,165 Total Labour Variance = (-) $3,270 Labour Price Variance = (-) $4,600 Labour Quantity Variance = (+) $1,330

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---