Direct Materials and Direct Labor Variance Analysis

Oasis Faucet Company manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has 80 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows

Standard wage per hr Standard labor time per faucet Standard number of lbs. of zinc Standard price per lb. of zinc Actual price per lb. of zinc Actual lbs. of zinc used during the week Number of faucets produced during the week Actual wage per hr Actual hrs. for the week $16.80 15 min 2.6 lbs $22.00 $21.85 31,750 lbs 12,000 $17.00 3,200 hrs 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 57.2 4.2 61.4