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Compute the total, price, and quantity variances

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Question - Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

Direct materials (10 pounds at $2.70 per pound) $27.00

Direct labor (6 hours at $12.00 per hour) $72.00

During the month of April, the company manufactures 320 units and incurs the following actual costs.

Direct materials purchased and used (1,700 pounds) $4,760

Direct labor (1,940 hours) $22,892

Required - Compute the total, price, and quantity variances for materials and labor.

Reference no: EM133168617

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