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v RQ 4 - Kenobl Technologies (Standard Costs) Standard Cost Hints...

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RQ 4 - Kenobl Technologies (Standard Costs) Standard Cost Hints MOV (Material Quant Var) - SP (5QAQ) Actual Quantity used MPV (Material Price Var) - AQ" (SPAP) Actual Quantity Purchased LEV (Labor Eff Var) - SR (SH-AH) LRV (Labor Rate Var) - AH (5R - AR) VoEV - SR (SH-AH) VORV=AH (SR-AR) Spending Variance Actual cost (AH X AR) - Flexible budget cost (SH x SR) SP Standard Price AP - Actual Price AQ - Actual Quantity Kenobi Technologies' material quantity standard is 12.50 pounds per unit of output with a related standard price of $17.00 per pound. In June, the total production amounted to 5,000 units using 72,000 pounds of direct material. During the month, the company purchased 32,800 pounds of the direct material costing $524,800.00 Required: Determine the material price variance, the material quantity variance, and the spending variance

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