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 $13 per hour Actual materials price $110 per ton Standard labor rate $12.50 per hour Standard materials price $111 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used (a) 4,500 hours 1,600 tons 4,580 hours 1,575 tons Standard quantity of materials used 1,575 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 5 Labor quantity variance eTextbook and Media Save for Later Attempts: 0 of 4 used Submit