(Answered) Material and labor variancesthe following actual and

Accounting

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:

Direct material	7,800	lbs. @	$5.30	8,000	lbs. @	$5.10
Direct labor	12,400	hrs. @	$8.40	12,000	hrs. @	$8.70

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable.

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