PR 23-1A Direct materials and direct labor variance analysis Fancy Fixture Company manufactures faucets in a small manufacturing facility. The fau- cets are made from brass. Manufacturing has 100 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: OBJ. 2, 3 $21.00 20 min. 5 lbs. $2.80 $2.72 59,875 lbs. 11,820 $21.40 4,000 hrs. Standard wage per hr. Standard labor time per faucet Standard number of lbs. of brass Standard price per lb. of brass Actual price per lb. of brass Actual lbs. of brass used during the week Number of faucets produced during the week Actual wage per hr. Actual hrs. for the week Instructions Determine (a) the standard cost per unit for direct materials and direct labor; (b) the di- rect materials price variance, direct materials quantity variance, and total direct materials cost variance; and (c) the direct labor rate variance, direct labor time variance, and total direct labor cost variance