question 2 input price and quantity variances 461317

Pietro’s Pizza has established the following standards for making one pizza:

Dough: 0.6 pounds at $3 per pound

Labor: 0.3 hours at $10 per hour

Actual sales volume for the past month was 11,000 units. Actual dough and labor quantities and prices were as follows:

Dough: 4,950 pounds (total) at $2.75 per pound

Labor: 4,400 hours (total) at $15 per hour

Required:

(enter favorable and unfavorable variances as positive and negative numbers, without F or U)

(a) What are the input price and quantity variances for dough?

input price variance = $___________(enter negative numbers with a minus, i.e., negative $100 is -100, not ($100))

input quantity variance = $__________ (enter negative numbers with a minus)

(b) What are the input price and quantity variances for labor?

input price variance = $_______________ (enter negative numbers with a minus)

input quantity variance = $ _____________ (enter negative numbers with a minus)