Exercise 11-7 (Video) Your answer is partially correct. Try again. Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $14.40 Direct materials (8 pounds at $1.80 per pound) Direct labor (6 hours at $14.00 per hour $84.00 During the month of April, the company manufactures 230 units and incurs the following actual costs. $2,850 Direct materials purchased and used (1,500 pounds) Direct labor (1,410 hours) $19,458 Compute the total, price, and quantity variances for materials and labor. Total materials variance Favorable A Materials price variance Unfavorable A Materials quantity variance Favorable Total labor variance Unfavorable Labor price variance Favorable A Labor quantity variance Unfavorable A Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Question Attempts: Unlimited