Graded Chapter 9 Homework Problems 1 Saved 2.5 points eBook Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost some of its cost accounting records. Ironwood has managed to reconstruct portions of its standard cost system database but is still missing a few pieces of information. Required: Use the information in the table to determine the unknown amounts. You may assume that Ironwood does not keep any raw materials on hand. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Standard amount per pan produced Standard price $ Direct Materials 25 lb 4.20 per b Direct Labor 1.10 hr. $16.00 per hr Actual amount used per pan produced 2.4 b. 1.20 Actual price $ 4.10 per b $ 15.50 per hr Pint Actual number of pans produced and sold 2,500 pans 2,500 pans Direct materials price variance References Direct materials quantity variance Direct materials spending variance Direct labor rate variance Direct labor efficiency variance Direct labor spending variance