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Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $2.20 per pound) $19.80 Direct labor (1 hours at $11.00 per hour) $11.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (1,600 pounds) $3,680 Direct labor (330 hours) $3,564 Compute the total, price, and quantity variances for materials and labor. Total materials variance $enter a dollar amount select an option Materials price variance $enter a dollar amount select an option Materials quantity variance $enter a dollar amount select an option Total labor variance $enter a dollar amount select an option Labor price variance $enter a dollar amount select an option Labor quantity variance $enter a dollar amount select an option

Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $2.20 per pound) $19.80 Direct labor (1 hours at $11.00 per hour) $11.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (1,600 pounds) $3,680 Direct labor (330 hours) $3,564 Compute the total, price, and quantity variances for materials and labor. Total materials variance $enter a dollar amount select an option Materials price variance $enter a dollar amount select an option Materials quantity variance $enter a dollar amount select an option Total labor variance $enter a dollar amount select an option Labor price variance $enter a dollar amount select an option Labor quantity variance $enter a dollar amount select an option

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 30P: Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following...
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Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $2.20 per pound) $19.80 Direct labor (1 hours at $11.00 per hour) $11.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (1,600 pounds) $3,680 Direct labor (330 hours) $3,564 Compute the total, price, and quantity variances for materials and labor. Total materials variance $enter a dollar amount select an option Materials price variance $enter a dollar amount select an option Materials quantity variance $enter a dollar amount select an option Total labor variance $enter a dollar amount select an option Labor price variance $enter a dollar amount select an option Labor quantity variance $enter a dollar amount select an option
Transcribed Image Text:Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $2.20 per pound) $19.80 Direct labor (1 hours at $11.00 per hour) $11.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (1,600 pounds) $3,680 Direct labor (330 hours) $3,564 Compute the total, price, and quantity variances for materials and labor. Total materials variance $enter a dollar amount select an option Materials price variance $enter a dollar amount select an option Materials quantity variance $enter a dollar amount select an option Total labor variance $enter a dollar amount select an option Labor price variance $enter a dollar amount select an option Labor quantity variance $enter a dollar amount select an option
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