Compute the Direct Materials and Labor Cost Variances
24-1A: Tuna Company set the following standard unit costs for its single product. Direct materials (25 lbs. @ $4 per lb) $100.00 Direct labor (6 hrs. @8 per hr.) 48.00 Factory overhead : variable (6 hrs. @ $5 per hr) 30.00 Factory overhead: fixed (6 hrs. @7 per hr) 42.00 Total standard costâ $220.00 The predetermined ov