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The following direct materials and direct labor data pertain to the operations of Laurel Company...

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Accounting

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.
\table[[Costs],[Actual labor rate,$16,per hour],[Actual materials price,$160,per ton],[Standard labor rate,$15.50,per hour],[Standard materials price,$163,per ton]]
\table[[Quantities,],[Actual hours incurred and used,5,000 hours],[Actual quantity of materials purchased and used,1,700 tons],[Standard hours used,5,040 hours],[Standard quantity of materials used,1,675 tons]]
(a)
Smpute the total, price, and quantity variances for materials and labor.
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