Direct Materials and Direct Labor Variance Analysis Jericho Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 70 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard number of lbs. of brass Standard price per lb. of brass Standard wage per hour) Standard labor time per unit 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 1.3 lbs. $11.25 $17.40 20 min. $11.50- 11,248 lbs. 8,400 $17.92 2,450 Actual hours for the week (70 employees x 35 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 14.625 Direct labor standard cost per unit Total standard cost per unit 5.8 20.425 b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cist variance, Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Previous $17.92 Actual hours for the week (70 employees x 35 hours) Required: 2,450 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 14.625 Direct labor standard cost per unit Total standard cost per unit 5.8 20.425 b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cast variance. Round your answers to the nearest whole dollar. 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 -2,812 -3,690 6,502 Unfavorable Unfavorable Unfavorable c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance 1,274 Unfavorable Favorable Favorable Previous