The following direct materials and direct labor data pertain to the operations o
ID: 2449488 • Letter: T
Question
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.
Costs
Quantities
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:
Costs
Actual labor rate $15 per hour Actual materials price $255 per ton Standard labor rate $14 per hour Standard materials price $258 per tonExplanation / Answer
The following direct materials and direct labor data pertain to the operations o