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Compute the total price and quantity variances for material

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Assignment

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

Direct materials (9 pounds at $2.20 per pound)

$19.80

Direct labor (1 hours at $11.00 per hour)

$11.00

During the month of April, the company manufactures 310 units and incurs the following actual costs.

Direct materials purchased and used (1,600 pounds)

$3,680

Direct labor (330 hours)

$3,564

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

Reference no: EM131455368

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