LaChut Company uses a standard cost system Job 822 is for the manufacturing of 800 units ofthe product P521 Requirements The CONDHHV'S standards for one unit or DVOGUCT P521 are as TDIlOWS (a) Determine the direct material price variance foriob 822 based on the actual quantity of materials used ' Quantity Price (b) Determine the direct material quantity variance furlob 822 based on the actual quantity of materials used (c) Determine the actual quantity of direct labor hours used on job 822 D t t l 8 2 \"9: ma eria ounces $ per OUHCE (d) Determine the actual labor costs incurred toriob 822 Direct labor 1 hours it 9 per hour a (Click the icon for information regarding the formula selections.) The jot: required 6,500 ounces of raw material costing $l6'250, An unfavorable labor rate variance of $632 and a favorable labor efficiency variance of 590 also were determined for this job. Requirement (a) Determine the direct material price variance forjoh 822 based on the actual quantity of materials used Determine the formula then compute the direct material price variance (Round dollar amounts to the nearest cent Label the variance as favorable (F) or unfavorable (U) ) ( , ix : Direct material price variance ( , ix : |:| Reference AH 2 Actual number of direct labor hours A3I 2 Actual price per unit of materials AG 2 Actual quantity of materials used AR 2 Actual wage rate S-l = Number of direct labor hours allowed given the level of output achieved SP 2 Estimated or standard price per unit of materials S0 = Standard quantity of materials allowed for the production level achieved SR 2 Standard wage rate