Question

Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (8 pounds at $2.50 per pound) ........ $20
Direct labor (3 hours at $12.00 per hour) .......... $36
During the month of April, the company manufactures 230 units and incurs the following actual costs.
Direct materials purchased and used (1,900 pounds) ..... $5,035
Direct labor (700 hours) ................ $8,120

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



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  • CreatedMarch 02, 2015
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