Direct Materials and Direct Labor, Variance Analysis Route 66 Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,400 tires were as follows: Standard Costs Actual Costs Direct materials 8,300 lbs. at $5.10 8,200 lbs. at $5.00 Direct labor 1,600 hrs. at $16.80 1,640 hrs. at $17.10

Direct Materials and Direct Labor, Variance Analysis Route 66 Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,400 tires were as follows: Standard Costs Actual Costs Direct materials 8,300 lbs. at $5.10 8,200 lbs. at $5.00 Direct labor 1,600 hrs. at $16.80 1,640 hrs. at $17.10 Required: a. Determine the price variance, quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. Price variance Favorable Quantity variance Favorable Total direct materials cost variance Favorable b. Determine the rate variance, time variance, and total direct labor cost variance. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. Rate variance Unfavorable Time variance Unfavorable Total direct labor cost variance $ Unfavorable