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Basil Tooling uses a standard cost system to account for the costs of its one...

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Accounting

Basil Tooling uses a standard cost system to account for the costs of its one product. Standards are 4 sheets of 12-inch steel at $110 per sheet and 14 hours of labor at a standard wage rate of $13. During July, Basil Tooling produced 600 units. Materials purchased and used totaled 2,540 sheets at a total cost of $268,850. Payroll totaled $112,930 for 8,770 hours worked. Calculate the:
direct materials price variance.
direct materials quantity variance.
Total (spending) material variance.
direct labor rate variance.
direct labor efficiency variance.
Total (spending) labor variance.
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