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Colegiale Rings produces class rings, its best-selling model has a drect materials standard of 12 grame of a specal alloy per ring This special alloy has a atandard cost of 563.06 per gram in five past month, the company purchased 12,000 grams of this alloy at a total cos of 5004,360 . A total of 12,300 grams were used last moreh to produce 1,000 rings. Pead the roouirements. Requirement 1. What is the actual cost per gram of the special alloy that Colegiate Fings purchated iast month? (Found your answar to the nesrist cent) The actual cost per gram of the special alloy that Colegiate Rings purchased last month is Requirement 2. What is the deect material price variance? (Abbreviations used: DM + Dieoc malenals) and your variance amount to the nearest whole dollar. Label the variance as favorable (F) or untaverable (U) Requirements 1. What is the actual cost per gram of the special alloy that Collegiate Rings purchased last month? 2. What is the direct material price variance? 3. What is the direct material quantity variance? 4. How might the direct material price variance for the company last month be causing the direct material quantity variance? Requirement 1. What is the achual cost per gram of the spocial alloy that Collegiate Rings purchased last month? (Round your anawer fo the nearest cent.) The actual cost por gram of the special alloy that Collegiote. Rings purchased last month is Requirement 2. What is the direct material peice variance? (Abbreviations usedi DM = Drect materiabs) Begin by determining the formula for the prioe variance, then compute the price variance for direct materais. (Enter the variance as a positive number. Reeurd interim calitulabins to and your variance amount to the nearest whole dollar, Label the variance as tavorable (F) or unfavorable (U).) equirement 1. What is the actual cost per gram of the special alloy that Collegiate. Rings purchased last month? (Round your answer to the nearast cent.). he actual coet per gram of the special alloy that Collegiate Rings purchased last month is iquirement 2. What is the direct material price variance? (Abbreviations used: DM = Direct materials) gin by detemining the formula for the price variance, then compute the price variance for direct materials. (Enter the variance as a positive number. Round interim ce your variance arnount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).)