Amber Company produces iron table and chair sets. During October, Amber's costs were as follows: Actual purchase price Actual direct labor rate Standard purchase price $ 2.60 per pound $ 7.80 per hour $ 2.40 per pound 1,000,000 pounds Standard quantity for sets produced Standard direct labor hours allowed Actual quantity purchased in October Actual direct labor hours 17,000 pounds 1,030,000 pounds $5,850 F 1,175,000 13,000 Actual quantity used in October Direct labor rate variance Required: 1. Calculate the total cost of purchases for October. 2. Compute the direct materials price variance based on the actual quantity purchased. 3. Calculate the direct materials quantity variance based on the actual quantity used. 4. Compute the standard direct labor rate for October. 5. Compute the direct labor efficiency variance for October.

Amber Company produces iron table and chair sets. During October, Amber's costs were as follows: Actual purchase price Actual direct labor rate Standard purchase price Standard quantity for sets produced Standard direct labor hours allowed Actual quantity purchased in October Actual direct labor hours Actual quantity used in October Direct labor rate variance $2.60 per pound $7.80 per hour $2.40 per pound 1,000,000 pounds 17,000 1,175,000 pounds 13,000 1,030,000 pounds $5,850F Required: 1. Calculate the total cost of purchases for October. 2. Compute the direct materials price variance based on the actual quantity purchased 3. Calculate the direct materials quantity variance based on the actual quantity used. 4. Compute the standard direct labor rate for October. 5. Compute the direct labor efficiency variance for October