It took some time to achieve the product I was looking for, but we eventually got there. I do feel like a lot of hard work was put into this, and it even exceeded the page requirement. I'm pretty pleased overall. I give my thanks.
he following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.
Actual labor rate $12 per hour
Actual materials price $251 per ton
Standard labor rate $11 per hour
Standard materials price $253 per ton
Actual hours incurred and used 3,760 hours
Actual quantity of materials purchased and used 1,008 tons
Standard hours used 3,824 hours
Standard quantity of materials used 989 tons
Compute the total, price, and quantity variances for materials and labor.
Total materials variance $
Materials price variance $
Materials quantity variance $
Total labor variance $
Labor price variance $
Labor quantity variance $
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