eBook Show Me How Direct Materials and Direct Labor Variances Berner Company produces a dark chocolate candy bar. Recently, the company adopted the following Direct materials (8.30 oz. @ $0.09) $0.75 Direct labor (0.09 hr. @ $18.00) 1.62 Standard prime cost $2.37 During the first week of operation, the company experienced the following actual results: a. Bars produced: 141,000. b. Ounces of direct materials purchased: 1,170,600 ounces at $0.08 per ounce. c. There are no beginning or ending inventories of direct materials. d. Direct labor: 12,550 hours at $17.20. Required: Instructions for parts 1 and 2: If a variance is zero, enter "0" and select "Not applicable" fr . Compute price and usage variances for direct materials. Materials Price Variance 11,706 Favorable_- V Materials Usage Variance Unfavorable - v . Compute the rate variance and the efficiency variance for direct labor. Labor Rate Variance 10,040 Favorable Labor Efficiency Variance 2,520 Favorable - Check My Work N DELL