$$ Problem $10-35$ Direct$-$Material and Direct$-$Labor Variances $($ L$010-1,10-3)$

During May, Joliet Fabrics Corporation manufactured $500$ units of a special multilayer fabric with the trade name Stylex. The following

information from the Stylex production department also pertains to May.

Direct material purchased: $18,000$ yards at $$1\mathrm{.}38$ per yard

Direct material used: $9,500$ yards at $$1\mathrm{.}38$ per yard

Direct labor: $2,100$ hours at $$9\mathrm{.}15$ per hour

The standard prime costs for one unit of Stylex are as follows:

Direct material: $20$ yards at $$1\mathrm{.}35$ per yard $$27$

Direct labor: $4$ hours at $$9\mathrm{.}00$ per hour $,36$

Total standard prime cost per unit of output $$63$

Required:

Compute the following variances for the month of May, indicating whether each variance is favorable or unfavorable.

Direct$-$material price variance.

Direct$-$material quantity variance.

Direct$-$material purchase price variance.

Direct$-$labor rate variance.

Direct$-$labor efficiency variance.

$($CPA$,$ adapted$)$