Faucet Industries Inc. manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has 60 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows:

Standard wage per hr. $18.00

Standard labor time per faucet 12 min.

Standard number of lbs. of zinc 0.80 lb.

Standard price per lb. of zinc $1.25

Actual price per lb. of zinc $1.40

Actual lbs. of zinc used during the week 10,200 lbs.

Number of faucets produced during the week 12,000

Actual wage per hr. $18.75

Actual hrs. per week 2,160 hrs.

Instructions Determine

(a) the standard cost per unit for direct materials and direct labor;

(b) the price variance, quantity variance, and total direct materials cost variance; and

(c) the rate variance, time variance, and total direct labor cost variance.