Compute the total price and quantity variances for

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

Costs

Actual labor rate
$13 per hour
Actual materials price
$128 per ton
Standard labor rate
$12.50 per hour
Standard materials price
$130 per ton

Quantities

Actual hours incurred and used
4,150 hours
Actual quantity of materials purchased and used
1,220 tons
Standard hours used
4,300 hours
Standard quantity of materials used
1,200 tons

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

Total materials variance
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Materials price variance
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Materials quantity variance
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Total labor variance
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Labor price variance
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Labor quantity variance
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Reference no: EM13571054

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