Calculate the materials usage variance-labor rate variance

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Reference no: EM131247604

Cave Creek Industrial Works has the following standards for one of its products.

Direct Material (3ft / $4) $12.00

Direct Labor (.4hr / $12) $ 4.80

During the most recent year, the following actual results were recorded.

Production 6,000

Units Direct Material (11,750ft / $5.20) $61,100

Direct Labor (2,900Hr / $10.20) $29,580

1. Calculate the Materials Price Variance

2. Calculate the Materials Usage Variance

3. Calculate the Labor Rate Variance

4. Calculate the Labor Efficiency Variance

Reference no: EM131247604

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