Diamond Company makes one product and has set the following standards for materials and labor:

	Direct Materials	Direct Labor
Standard quantity or hours per unit	? pounds		2.30	hours
Standard price or rate	? per pound	$	9.50	per hour
Standard cost per unit	?	$	21.85

During the past month, the company purchased 6,600 pounds of direct materials at a cost of $17,490. All of this material was used in the production of 1,300 units of product. Direct labor cost totaled $24,990 for the month. The following variances have been computed:

Materials quantity variance	$	1,160	U
Total materials spending variance	$	490	F
Labor efficiency variance	$	4,180	F

Required:

1.	For direct materials:

a.	Compute the standard price per pound for materials. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b.	Compute the standard quantity allowed for materials for the months production.

c.	Compute the standard quantity of materials allowed per unit of product. (Round your answer to 2 decimal places.)

2.	For direct labor:

a.	Compute the actual direct labor cost per hour for the month.

b.	Compute the labor rate variance. (Input the amount as a positive value. Do not round intermediate calculations. Indicate the effect of the variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)