Menu Material and Labor Variances The following actual and standard cost data for direct material...
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Menu Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product: Actual Costs Standard Costs Direct material 15,600 bs $5.3 16,000 lbs. s5. Direct labor 24,800 hrs$8.4 24,000 hrs. $8.7 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either for Favorable or "U for Unfavorable Materials Variances Actual cost: Split cost Standard cost a. Materials price b.Matenials efficiency Labor Variances Actual cost Split cost
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