Direct Materials and Direct Labor Variance Analysis Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 50 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $15.60 Standard labor time per faucet 10 min. Standard number of lb. of brass 1.90 lb. Standard price per Ib. of brass $9.75 Actual price per lb. of brass $10.00 Actual Ib. of brass used during the week 13,500 lb. Number of faucets produced during the week 6,900 Actual wage per hr. $16.10 Actual hrs. per week 1,800 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 Direct labor standard cost per unit Total standard cost per unit Price variance is the difference between the actual and standard prices, multiplied by the actual quantity. 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 Unfavorable Direct materials quantity variance Unfavorable Total direct materials cost variance Unfavorable 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 Unfavorable Direct labor time variance Unfavorable Total direct labor cost variance $ Unfavorable