Question

Pietro's Pizza has established the following standards for making one pizza: Dough:    0.55 pounds at $2...

Pietro's Pizza has established the following standards for making one pizza:
Dough:    0.55 pounds at $2 per pound
Labor:    0.15 hours at $10 per hour
Actual sales volume for the past month was 12,000 units. Actual dough and labor quantities and prices were as follows:
Dough:    6,000 pounds (total) at $1.75 per pound
Labor:    2,400 hours (total) at $12 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?
materials price variance = $  (enter negative numbers with a minus, i.e., negative $100 is -100, not ($100))
materials quantity variance = $  (enter negative numbers with a minus)

(b) What are the input price and quantity variances for labor?
labor rate variance = $  (enter negative numbers with a minus)
labor efficiency variance = $  (enter negative numbers with a minus)

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