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 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 32 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 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 $ $ 1.7 lbs. $9.75 10,506 lbs. $ $9.50 $11.40 15 min. 6,000 $11.74 960

Direct Materias and Direct Labor Variance Analysis Jericho Foxture 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 weok. Intormation about a production week is as follows: o. Determine the standard cost pet unit for direct materials and drect labor. Found the cost per unit to two decimal places. b. Determine the difect materials price variance, direct materials quantify variance, and total direct materialecost variance, Round your answers to the nearest whole dollar. foter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. b. Determine the direct materials price variance, direct materials quantity variance, and total direct materiais 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. 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 minulaign and an unfavorable variance as a positive number