Please complete all of problem 4.

Complete part a) & part b)

a) Calculate the price, Quantity, and Total Labor Variances

b) Journalize the entries to record the labor variances on the next page.

4. More Hits Company manufactures aluminum baseball bats that it sells to university athletic departments. It has developed the following per unit standard costs for 2022 for each baseball bat: Manufacturing Direct Materials Direct Labor Overhead Standard Quantity 2 Pounds (Aluminum) 1/2 hour 1/2 hour Standard Price $4.00 $10.00 S6.00 Unit Standard Cost $8.00 $5.00 53.00 In 2022, the company planned to produce 120.000 baseball bats at a level of 60,000 hours of direct labor. (+ 15 pts.) Actual results for 2022 are presented below: 1. Direct materials purchases were 246,000 pounds of aluminum which cost $1,020,900. 2. Direct materials used were 220,000 pounds of aluminum. 3. Direct labor costs were $575,260 for 58,700 direct labor hours actually worked. 4. Total manufacturing overhead was $352,000. 5. Actual production was 114,000 baseball bats. Instructions: Compute the following variances. 1. Direct materials price. 2. Direct materials quantity. 3. Direct labor price. 4. Direct labor quantity. 5. Total overhead variance. The Variances Are: Total Materials Variance Materials Price Variance Materials Quantity Variance The Variances Are: Total Labor Variance Labor Price Variance Labor Quantity Variance 3. The following direct labor data pertain to the operations of Murray Industries for the month of November: Standard labor rate $15.00 per hr. Actual hours incurred 9,000 The standard cost card shows that 2.5 hours are required to complete one unit of product. The actual labor rate incurred exceeded the standard rate by 10%. Four thousand units were manufactured in November. (+ 15 pts.) Instructions: (a) Calculate the price, quantity, and total labor variances. (b) Journalize the entries to record the labor variances on the next page. Price Variance Quantity Variance Total Labor Variance General Journal P.R Debit Credit Date Account Title