ABC Company manufactures abc implements. During August, the company ACTUALLY produced only 300 units of output, but they had planned for 400 units. ABC Company tracks four factory inputs: (1) direct materials, (2) direct labor, (3) variable factory overhead and (4) fixed factory overhead. Both variable and fixed factory overhead are applied using predetermined rates based on direct labor hours. For each of the following cost components, an examination of the records revealed the repective amounts:

Direct Materials:

Standard Cost per unit of materials: $3.20 per pound

Total standard cost allowed for the actual output achieved: $5,760

Direct materials quantity variance: $96 Unfavorable

Total actual cost of materials purchased and used: $5,673

Direct Labor:

Standard cost per unit of output: 2 direct labor hours at $7.00 per hour

Actual direct labor rate per hour: $7.25

Direct labor efficiency variance: $140.00 Unfavorable

Variable Factory Overhead:

Standard variable overhead cost per standard direct labor hour: $4.00 per direct labor hour

Total actual variable overhead cost: $2,250

Fixed Factory Overhead:

Budgeted fixed factory overhead: $4,800

Fixed factory overhead spending variance: $500 Favorable

Fixed factory overhead rate per standard direct labor hour: $6.00 per direct labor hour

Please, compute the following amounts and show computation/work (indicate the direction of any variance computed)

1. Standard quantity of direct material allowed per unit of output:

2. Actual unit cost of direct materials purchased and used:

3. Direct materials price variance: and (Unfavorable or Favorable)

4. Total actual cost of direct labor used:

5. Direct labor rate variance: and (Unfavorable or Favorable)