Direct Materials and Direct Labor Variance Analysis Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 30 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $11.40 Standard labor time per faucet 20 min. Standard number of lb. of brass 1.60 lb. Standard price per lb. of brass $12.25 $12.50 13,300 lb. Actual price per lb. of brass Actual lb. of brass used during the week Number of faucets produced during the week Actual wage per hr. Actual hrs. per week 8,100 $11.70 1,200 hrs. Required: a. Determine the standard cost per faucet for direct materials and direct labor. Round the cost per unit to two decimal places Direct materials standard cost per unit 5 Direct labor standard cost per unit 3.80 Total standard cost per unit S b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct materials price variance Direct materials quantity variance Total direct materials cost variance c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct labor rate variance $ -360 Unfavorable Direct labor time variance 17,100 Favorable Total direct labor cost variance s 16,740 Favorable