ALT-DM-DL-VARIANCES 1. Kilgore Company uses a standard costing system in the production of Thingembobs. Direct Material: Standard price is $7.00 per pound. Each Thingembob requires 2 pounds of material. MATERI Direct Labor: The standard direct labor rate is $18.00 per hour, and each Thingembob requires 3 hours of direct labor. During the month, the company purchased 6,000 pounds of material, paying $7.30 per pound. The direct material used during the month was 4,200 pounds. MATERIA The company used 6,450 hours of direct labor during the month, at a rate of $18.10 per hour. LABOR U The company produced 2,000 Thingembobs this month. 1 2 embobs. ACTUAL QUANTITY STANDARD PRICE STD PRICE ACTUAL QUANTITY ACTUAL PRICE STD QUANTITY $0 $0 MATERIAL PURCHASE DMPV $0 ACT. QTY STD. PRICE ACT. QTY ACT. PRICE $0 $0 DMQV MATERIAL USAGE ds. 0 UNITS PROL MTLS/UNIT STD PRICE (POUNDS) PER POUND ACT. QTY STD. PRICE OF MTL USED $0 $0 $0 DLTV LABOR USAGE LRV $0 0 UNITS PROL DLH/UNIT STD RATE STD. RATE ACT. HRS ACT. RATE ACT. HRS (HOURS)