Calculate the direct material price, usage, and volume variances for the metal strips and the glass sheets. Also, calculate the rate, efficiency, and volume variances for direct labor.

Refer back to Part I information. At April 5, 2021, you have the actual numbers for direct materials and direct labor during the first quarter. They are as follows: Metal Borders, Inc. Actual DM and DL Production Costs For First Quarter Ending March 31, 2021 R Frame L Frame Direct material: Metal strips: Number of feet Cost per foot $ 2.2 1.50 $ 2.9 1.50 $ Glass sheets: Number of sheets Cost per sheet $ 0.30 8.25 $ 0.50 8.25 $ Direct labor: Number of hours Rate per hour 0.20 20.10 $ 0.10 20.10 $ Actual units produced 55,900 46,500 Required (on Excel): Calculate the direct material price, usage, and volume variances for the metal strips and the glass sheets. Also, calculate the rate, efficiency, and volume variances for direct labor. Use the format presented in Chapter 9 videos in your Excel file. Explain what you think caused the differences between actual and budgeted direct material and direct labor costs (a paragraph in the Excel worksheet) 7. Projected production costs in 2021 are as follow: Metal Borders, Inc. Projected Production Costs For Year Ending December 31, 2021 R Frame L Frame Direct material: Metal strips: Number of feet Cost per foot $ 2.0 1.00 $ 3.0 1.00 Glass sheets: Number of sheets Cost per sheet 0.25 $ 0.50 8.00 $ 8.00 $ Direct labor: Number of hours Rate per hour $ 0.10 20.00 $ 0.10 20.00 $ Production OH rate per DL hour $ $ 10.00 $ 10.00 Total production cost per unit $ 7.00 $ 10.00 Refer back to Part I information. At April 5, 2021, you have the actual numbers for direct materials and direct labor during the first quarter. They are as follows: Metal Borders, Inc. Actual DM and DL Production Costs For First Quarter Ending March 31, 2021 R Frame L Frame Direct material: Metal strips: Number of feet Cost per foot $ 2.2 1.50 $ 2.9 1.50 $ Glass sheets: Number of sheets Cost per sheet $ 0.30 8.25 $ 0.50 8.25 $ Direct labor: Number of hours Rate per hour 0.20 20.10 $ 0.10 20.10 $ Actual units produced 55,900 46,500 Required (on Excel): Calculate the direct material price, usage, and volume variances for the metal strips and the glass sheets. Also, calculate the rate, efficiency, and volume variances for direct labor. Use the format presented in Chapter 9 videos in your Excel file. Explain what you think caused the differences between actual and budgeted direct material and direct labor costs (a paragraph in the Excel worksheet) 7. Projected production costs in 2021 are as follow: Metal Borders, Inc. Projected Production Costs For Year Ending December 31, 2021 R Frame L Frame Direct material: Metal strips: Number of feet Cost per foot $ 2.0 1.00 $ 3.0 1.00 Glass sheets: Number of sheets Cost per sheet 0.25 $ 0.50 8.00 $ 8.00 $ Direct labor: Number of hours Rate per hour $ 0.10 20.00 $ 0.10 20.00 $ Production OH rate per DL hour $ $ 10.00 $ 10.00 Total production cost per unit $ 7.00 $ 10.00