Reference no: EM132517017

Jay Levitt Company budgeted the following cost standards for the current year:

Direct materials (2 kg of plastic at $6 per kilogram) $12.00

Direct labour (2 hours at $11 per hour) 22.00

Variable manufacturing overhead 11.15

Fixed manufacturing overhead 6.25

Total standard cost per unit $51.40

Actual costs for producing 2,740 units were as follows:

Direct materials used   5,750kg

Direct materials purchased (6,800 kg) $39,440

Direct labour (6,900 hours) $62,790

Variable manufacturing costs $32,800

Fixed manufacturing costs $17,400

Question 1: Calculate the materials price variance for materials purchased.

Question 2: Calculate the materials quantity variance.

Question 3: Calculate the labour price variance. (Round answer to the nearest whole dollar, e.g. 5,275.)

Question 4: Calculate the labour quantity variance.