he following direct materials and direct labor data pertain to the operations of lau 3625093

February 10, 2021/in Business Homework Help Online /by Joseph

he following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Costs
Actual labor rate $12 per hour
Actual materials price $251 per ton
Standard labor rate $11 per hour
Standard materials price $253 per ton

Quantities
Actual hours incurred and used 3,760 hours
Actual quantity of materials purchased and used 1,008 tons
Standard hours used 3,824 hours
Standard quantity of materials used 989 tons

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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