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 $12.00 15 min. Standard labor time per unit Standard number of lbs. of brass 1.9 lbs. Standard price per ib. of brass $13.00 $13.25 12,329 lbs. 6,300 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 x 32 hours) Required: $12.36 960 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 24.7 Direct labor standard cost per unit 3 Total standard cost per unit 27.7 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 -3,082 x Favorable x Direct Materials Quantity Variance -4,667 Favorable x Total Direct Materials Cost Variance -7,749 Favorable X 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 $ -346 Favorable X Next $12.00 Standard wage per hour Standard labor time per unit Standard number of lbs. of brass 15 min 1.9 lbs Standard price per lb of brass $13.00 Actual price per lb. of brass Actual lbs. of brass used during the week Number of units produced during the week $13.25 12,329 lbs. 6,300 $12.36 Actual wage per hour 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. 24.7 Direct materials standard cost per unit Direct labor standard cost per unit 3 27.7 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 number Direct Materials Price Variance -3,082 X Favorable X Direct Materials Quantity Variance -4,667 X Favorable X Total Direct Materials Cost Variance -7,749 X Favorable X 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 -346 Direct Labor Rate Variance Favorable X 7,380 Direct Labor Time Variance Unfavorable X Total Direct Labor Cost Variance 7,034 Unfavorable X