I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available:

Standard Amount per Case
	Dark Chocolate		Light Chocolate		Standard Price per Pound
Cocoa	11 lbs.		8 lbs.		$4.30
Sugar	9 lbs.		13 lbs.		0.60
Standard labor time	0.3 hr.		0.4 hr.

	Dark Chocolate		Light Chocolate
Planned production	5,200 cases		10,500 cases
Standard labor rate	$15.50 per hr.		$15.50 per hr.

I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results:

	Dark Chocolate		Light Chocolate
Actual production (cases)	4,900		10,900
	Actual Price per Pound		Actual Pounds Purchased and Used
Cocoa	$4.40		141,800
Sugar	0.55		181,200
	Actual Labor Rate		Actual Labor Hours Used
Dark chocolate	$15.20 per hr.		1,340
Light chocolate	15.80 per hr.		4,470

Required:

1. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year:

a. Direct materials price variance, direct materials quantity variance, and total variance.

b. Direct labor rate variance, direct labor time variance, and total variance.

Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If there is no variance, enter a zero.

a.	Direct materials price variance	$fill in the blank 1	Unfavorable
	Direct materials quantity variance	$fill in the blank 3	Unfavorable
	Total direct materials cost variance	$fill in the blank 5	Unfavorable
b.	Direct labor rate variance	$fill in the blank 7	Unfavorable
	Direct labor time variance	$fill in the blank 9	Favorable
	Total direct labor cost variance	$fill in the blank 11	Unfavorable

The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys:

Quantity of direct materials used	5,000 lbs.
Actual unit price of direct materials	$2.3 per lb.
Units of finished product manufactured	1,200 units
Standard direct materials per unit of finished product	4 lbs.
Direct materials quantity varianceunfavorable	$500
Direct materials price variancefavorable	$1,000

Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month. If required, round your standard cost per unit answer to two decimal places.

Product finished	1200	units
Standard finished product for direct materials used	fill in the blank 2	units
Deficiency of finished product for materials used	fill in the blank 3	units
Standard cost for direct materials	$fill in the blank 4	per unit