Sharp company manufactures a product for which the


Sharp Company manufactures a product for which the following standards have been set:

During March, the company purchased direct materials at a cost of $60,450, all of which were used in the production of 3,440 units of product. In addition, 4,900 hours of direct labor time were worked on the product during the month. The cost of this labor time was $41,550. The following variances have been computed for the month:

Materials Quantity Variance : $900 Unfavorable
Labor Spending Variance : $270 Unfavorable
Labor Efficiency Variance : $2,080 Favorable

Question : Compute price variance and spending variance

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Accounting Basics: Sharp company manufactures a product for which the
Reference No:- TGS01279068

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