The following direct materials and direct labor data pertain

Last updated: 4/4/2023

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August Actual labor rate Actual materials price Standard labor rate Standard materials price a Costs Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used Total materials variance Materials price variance Total labor variance Compute the total price and quantity variances for materials and labor Materials quantity variance Labor price variance 14 per hour 120 perton 13 50 per hour 121 per ton Quantities Labor quantity variance 3 900 hours 2 000 tons 3 950 hours 1 980 tons V