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30. Materials and Labor Variances. Brier Company produces car covers. (This is the same company as the previous exercise. This exercise can be assigned independently.) For direct materials, the standard price for 1 yard of material is $5 per yard. A standard quantity of 8 yards of material is expected to be used for each car cover produced. During September, Brier Company purchased 45,000 yards of material for $238,500 and used 39,000 yards to produce 5,100 car covers. For direct labor, Brier Company established a standard number of direct labor hours at three hours per car cover. The standard rate is $16 per hour. A total of 14,700 direct labor hours were worked during September, at a cost of $238,140, to produce 5,100 car covers. Required: a. Calculate the materials price variance and materiais quantity variance using the format shown in Figure 10.4. Clearly label each variance as favorable or unfavorable. b. Calculate the labor rate variance and labor efficiency variance using the format shown in Figure 106 Clearly label each variance as favorable or unfavorable. 30. Materials and Labor Variances. Brier Company produces car covers. (This is the same company as the previous exercise. This exercise can be assigned independently.) For direct materials, the standard price for 1 yard of material is $5 per yard. A standard quantity of 8 yards of material is expected to be used for each car cover produced. During September, Brier Company purchased 45,000 yards of material for $238,500 and used 39,000 yards to produce 5,100 car covers. For direct labor, Brier Company established a standard number of direct labor hours at three hours per car cover. The standard rate is $16 per hour. A total of 14,700 direct labor hours were worked during September, at a cost of $238,140, to produce 5,100 car covers. Required: a. Calculate the materials price variance and materiais quantity variance using the format shown in Figure 10.4. Clearly label each variance as favorable or unfavorable. b. Calculate the labor rate variance and labor efficiency variance using the format shown in Figure 106 Clearly label each variance as favorable or unfavorable

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