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 30 employees. Each employee presently provides 32 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 2.1 lbs. $9.25 $10.80 20 min. $9.50 Actual lbs. of brass used during the week 14,925 lbs. Number of units produced during the week 6,900 Actual wage per hour $11.12 Actual hours for the week (30 employees x 32 hours) Required: 960 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 19.43 $ 32.4 X 22.84 X b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials 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 Materials Price Variance Direct Materials Quantity Variance 3,731 4,024 Unfavorable Unfavorable Total Direct Materials Cost Variance 7,755 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 307 Unfavorable Direct Labor Time Variance 14,472 X Favorable Total Direct Labor Cost Variance 14,165 X Favorable