Nona Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
| Direct materials (6 pounds at $2.30 per pound) |
|
$13.80 |
| Direct labor (4 hours at $12.00 per hour) |
|
$48.00 |
During the month of April, the company manufactures 320 units and incurs the following actual costs.
| Direct materials purchased and used (2,300 pounds) |
|
$5,911 |
| Direct labor (1,300 hours) |
|
$15,431 |
Compute the total, price, and quantity variances for materials and labor.
| Total materials variance |
|
$ |
|
Neither favorable nor unfavorableUnfavorableFavorable |
| Materials price variance |
|
$ |
|
UnfavorableFavorableNeither favorable nor unfavorable |
| Materials quantity variance |
|
$ |
|
Neither favorable nor unfavorableFavorableUnfavorable |
| Total labor variance |
|
$ |
|
UnfavorableNeither favorable nor unfavorableFavorable |
| Labor price variance |
|
$ |
|
FavorableNeither favorable nor unfavorableUnfavorable |
| Labor quantity variance |
|
$ |