Direct Materials and Direct Labor Variance Analysis

Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows:

Standard wage per hour Standard labor time per unit Standard number of lbs. of brass Standard price per lb. of brass Actual price per lb. of brass Actual lbs. of brass used during the week Number of units produced during the week Actual wage per hour Actual hours for the week (30 employees 36 hours) Required: a. Determine the standard cost per unit 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 $16.2 20min. 1.7 lbs. $11.25 $11.5 14,183 Ibs. 8,100 $16.69 1,080hrs. minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $ Direct Materials Quantity Variance Total Direct Materials Cost Variance $ an unfavorable variance as a positive number. Direct Labor Rate Variance Direct Labor Time Variance $ Total Direct Labor Cost Variance $ $