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Compute the material price and quantity and the labor rate

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Reference no: EM132758078

Actual price paid for material $1.00

Standard price for material $1.20

Actual quantity purchased and used in production 100

Standard quantity for units produced 110

Actual labor rate per hour $15

Standard labor rate per hour $16

Actual hours 200

Standard hours for units produced 220

Problem a. Compute the material price and quantity, and the labor rate and efficiency variances

Problem b. Describe the possible causes for this combination of favorable and unfavorable variances

Reference no: EM132758078

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