Standard Quantity or Hours Direct materials Direct labor 7.40 pounds 0.90 hours During the most recent month, the follow

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Standard Quantity Or Hours Direct Materials Direct Labor 7 40 Pounds 0 90 Hours During The Most Recent Month The Follow 1 (26.24 KiB) Viewed 55 times

Standard Quantity or Hours Direct materials Direct labor 7.40 pounds 0.90 hours During the most recent month, the following activity was recorded Standard Price or Rate $2.30 per pound $8.50 per hour a. 21,500.00 pounds of material were purchased at a cost of $2.10 per pound b. All of the material purchased was used to produce 2,500 units of Zoom € 2,000 hours of direct labor time were recorded at a total labor cost of $21,000 1. Materials price vanance 1. Matenals quantity vanance 2 Labor rate variance 2 Labor efficiency vanance Standard Cost $ 17.02 $7.65 Required: 1 Compute the materials price and quantity variances for the month 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole doller.)