Assignment
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
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Direct materials (9 pounds at $2.20 per pound)
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$19.80
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Direct labor (1 hours at $11.00 per hour)
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$11.00
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During the month of April, the company manufactures 310 units and incurs the following actual costs.
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Direct materials purchased and used (1,600 pounds)
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$3,680
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Direct labor (330 hours)
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$3,564
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Compute the total, price, and quantity variances for materials and labor.