Problem 10-34 Materials and Labour Variances; Computations from Incomplete Data (LO1, LO2, LO3] Grand River Manufacturing produces a metal flange that it sells to several local home building supply retailers. The company has set standards as follows for materials and labour: 20 points Standard quantity or hours per unit Standard price or rate Standard cost per unit Direct Materials 1.5 kilograms $3 per kilogram $4.50 Direct Labour ? hours $? per hour $? eBook References During the past month, the company purchased 1,500 kilograms of direct materials at a cost of $4,200. All of this material was used in the production of 840 units of product using 425 hours of direct labour. Direct labour cost totalled $4,675 for the month. The following variances have been computed: Labour rate variance Total labour variance Materials quantity variance $ $ $ 425 U 375 F 750 U Required: 1. Compute the following for direct labour. (Round "hours per unit" answer to 2 decimal places.) Standard rate per hour for labour. Standard quantity allowed for labour for the month's production. c. Standard quantity of labour allowed per unit of product. hrs. hr(s) per unit 2. Compute the following for direct materials. (Round your answers to 2 decimal places.) a. Actual direct materials cost per kilogram for the month. | b. Materials price variance