1. During January, Ajax Co. incurs 1,850 hours of direct labor at an hourly cost of S11 output is t 100 units of its finished product. Ajax standard labor cost per unitor (2 hours x $11.00). Instructions Compute the total, price, and quantity labor variances for Ajax Co. for January. 2. Ro b Honda plans to buy a home and can deposit $15,000 for the purchase today. If the annual interest rate is 8%, how much can Rob expect to have for a down payment in 5 years? 3. Dillon has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2,000 units, Dillon used 3,100 pounds of materials at a total cost of $18,135. Dillon's materials price variance is A) $465 F. B) $1,050 F C) $600 F. D) $135 U. 4. The per-unit standards for direct materials are 2 pounds at $5 per pound. Last month, 11,200 pounds of direct materials that actually cost $53,000 were used to produce 6,000 units of product. The direct materials quantity variance for last month was A) $3,000 favorable. B) $7,000 unfavorable. C) $4,000 unfavorable. D) $4,000 favorable. 5. All Urban Company produces a product requiring 4 pounds of material costing $3.50 per pound. During December, All Urban purchased 4,200 pounds of material for $14,112 and used the material to produce 500 products. What was the materials price variance for December? A) $588F B) $560F C) $672 U D) $112 U