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 |
|
$ |
|
|
| Materials price variance |
|
$ |
|
|
| Materials quantity variance |
|
$ |
|
|
| Total labor variance |
|
$ |
|
|
| Labor price variance |
|
$ |
|
|
| Labor quantity variance |
|
$ |
|
|