Determine the direct materials quantity variances

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Problem - Direct materials and direct labor variances - At the beginning of June, Marshall Printing Company budgeted 16,000 books to be printed in June at standard direct materials and direct labor costs as follows:

Direct materials $24,000

Direct labor 8,000

Total $32,000

The standard materials price is $0.75 per pound. The standard direct labor rate is $12.50 per hour. At the end of June, the actual direct materials and direct labor costs were as follows:

Actual direct materials $21,300

Actual direct labor 6,800

Total $28,100

There were no direct materials price or direct labor rate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Marshall Printing Company actually produced 14,000 units during June.

Required - Determine the direct materials quantity and direct labor time variances.

Reference no: EM132883850

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