Pietro's Pizza has established the following standards for making one pizza:
Dough: 0.6 pounds at $3 per pound
Labor: 0.3 hours at $10 per hour
Actual sales volume for the past month was 11,000 units. Actual dough and labor quantities and prices were as follows:
Dough: 4,950 pounds (total) at $2.75 per pound
Labor: 4,400 hours (total) at $15 per hour
Required:
(enter favorable and unfavorable variances as positive and negative numbers, without F or U)
(a) What are the input price and quantity variances for dough?
input price variance = $___________(enter negative numbers with a minus, i.e., negative $100 is -100, not ($100))
input quantity variance = $__________ (enter negative numbers with a minus)
(b) What are the input price and quantity variances for labor?
input price variance = $_______________ (enter negative numbers with a minus)
input quantity variance = $ _____________ (enter negative numbers with a minus)