- Current Attempt in Progress The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 per hour $128 per ton $12.50 per hour $130 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4.150 hours 1.220 tons 4,300 hours 1.200 tons (a) Compute the total price and quantity variances for materials and labor, Total materials variance - Standard hours used Standard quantity of materials used 4,300 hours 1.200 tons (a) 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 $ e Textbook and Media