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Business, 13.04.2021 03:40 rm3582317

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs
Actual labor rate $15 per hour
Actual materials price $190 per ton
Standard labor rate $14.50 per hour
Standard materials price $193 per ton

Quantities
Actual hours incurred and used 4,600 hours
Actual quantity of materials purchased and used 1,700 tons
Standard hours used 4,650 hours
Standard quantity of materials used 1,680 tons

Required:
Compute the total, price, and quantity variances for materials and labor.

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Answers: 3

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