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Exercise 11-8
The following direct materials and direct labor data pertain to the operations of Laurel Company for
the month of August.
Costs
Actual labor rate
Actual materials price
Standard labor rate
Standard materials price
$13
$292
$12
$293
per
per
per
per
hour
ton
hour
ton
Quantities
Actual hours incurred and used
Actual quantity of materials purchased and
used
Standard hours used
Standard quantity of materials used
4,787 hours
1,806 tons
4,836 hours
1,783 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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