Direct materials (6 pounds at $1.60 per pound) $9.60 Direct labor (6 hours at $10.00 per hour) $60.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (2,400 pounds) $4,080 Direct labor (1,880 hours) $18,612 Compute the total, price, and quantity variances for materials and labor. Total materials variance Unfavorable Materials price variance $ Unfavorable Materials quantity variance 2$ Unfavorable Total labor variance $ Unfavorable Labor price variance 2$ Favorable Labor quantity variance Unfavorable %24

Direct materials (6 pounds at $1.60 per pound) $9.60 Direct labor (6 hours at $10.00 per hour) $60.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (2,400 pounds) $4,080 Direct labor (1,880 hours) $18,612 Compute the total, price, and quantity variances for materials and labor. Total materials variance Unfavorable Materials price variance $ Unfavorable Materials quantity variance 2$ Unfavorable Total labor variance $ Unfavorable Labor price variance 2$ Favorable Labor quantity variance Unfavorable %24

Name: Levine Inc., which produces a single product, has prepared the follow
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.Direct materials (6 pounds at $1.60 per pound)$9.60Direct labor (6 hours at $10.00 per hour)$60.00During the month of April, the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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