Direct Materials and Direct Labor Variance Analysis Shasta 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 wage per hour $16.20 Standard labor time per unit 15 min. 1.7 lbs. Standard number of lbs. of brass Standard price per lb. of brass $10.00 Actual price per lb. of brass $10.25 14,708 lbs. 8,400 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 x 32 hours) Required: $16.69 960 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 17 Direct labor standard cost per unit 4.05 Total standard cost per unit 21.05 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 $ 3,677 Unfavorable Direct Materials Quantity Variance $ -128,092 x Unfavorable Total Direct Materials Cost Variance 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 $ 470 Unfavorable Direct Labor Time Variance S 18,468 x Favorable Total Direct Labor Cost Variance 2,100 x Favorable