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.

Costs

Actual labor rate $15 per hour
Actual materials price $180 per ton
Standard labor rate $14.50 per hour
Standard materials price $182 per ton

Quantities

Actual hours incurred and used 4,700 hours
Actual quantity of materials purchased and used 1,900 tons
Standard hours used 4,760 hours
Standard quantity of materials used 1,890 tons

(a) Compute the total, price, and quantity variances for materials and labor.

Total materials variance $enter a dollar amount select a type of the variance FavorableNeither favorable nor unfavorableUnfavorable
Materials price variance $enter a dollar amount select a type of the variance Neither favorable nor unfavorableUnfavorableFavorable
Materials quantity variance $enter a dollar amount select a type of the variance Neither favorable nor unfavorableFavorableUnfavorable
Total labor variance $enter a dollar amount select a type of the variance Neither favorable nor unfavorableUnfavorableFavorable
Labor price variance $enter a dollar amount select a type of the variance UnfavorableNeither favorable nor unfavorableFavorable
Labor quantity variance $enter a dollar amount select a type of the variance UnfavorableFavorableNeither favorable nor unfavorable

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