can anyone answer to this question please ASAP and show works with details pleas

Question

can anyone answer to this question please ASAP and show works with details please. thanks

The Thompson Company uses standard costing and has established the following direct material and direct labor standards for each unit of Leptin. Direct materials2 gallons at $4 per gallon Direct labor 0.5 hours at $8 per hour During September, the company made 6,000 Leptin and incurred the following costs: Direct materials purchased Direct materials used 13,400 gallons at $4.10 per gallon 12,600 gallons 2,800 hours at $7.65 per hour Direct labor used Required: Use the above information to calculate the following: a) Materials quantity variance b) Materials price variance c) Labor efficiency variance d) Labor rate variance

Explanation / Answer

a) Material quantity variance =(Standard quantity-actual quantity)Standard price

                                               = (6000*2-12600)*4

Material quantity variance = 2400 U

b) Material price variane = (Standard price-actual price)actual quantity purchased

                                        = (4-4.10)*13400

Material price variance = 1340 U

c) Labour efficiency variance = (Standard hour-actual hour)Standard rate

                                               = (6000*.50-2800)*8

Labour efficiency variance = 1600 F

d) Labour rate variance = (Standard rate-actual rate)Actual hour

                                         = (8-7.65)*2800

Labour rate variance = 980 F

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