Data Section: $15.90 $16.00 Materials price variance input Actual cost of material per pound (ounce, etc.) Standard cost of mat. per pound (ounce, etc.) Materials quantity variance input Actual quantity of materials used Standard quantity of mat, used for actual output 39,500 38,000 $8.05 $8.00 Laborrate variance input Actual cost of labor per hour Standard cost of labor per hour Labor efficiency variance input Actual quantity of hours incurred Standard quantity of hours for actual output 44,000 45,600 Answer Section: Indicate For U only Material price variance e Material quantity variance FORMULA1 FORMULA2 FORMULAS FORMULAS FORMULAS FORMULA 10 FORMULA FORMULA5 FORMULA 11 FORMULA12 Total materials variance 2 3 Labor rate variance 4 Labor efficiency variance 5 $ Total labor variance 7 8 Total materials and labor variances 9 0 FORMULA FORMULA 13 FORMULAZ =======