Problem 4(15 points) Elridge Company uses a standard costing system. The standard direct costs of manufacturing its only product and the operating data for the month just completed are as follows: Direct materials, 8 kilograms per unit @ $5.00 per kilogram $40.00 Direct labor, 3 hours per unit @ $16.40 per hour $49.20 Actual output 6,300 units Budgeted output 6,000 units Purchases of direct materials 50,000 kilograms Actual direct labor costs $300,760 Actual direct labor hours 18,250 hours Direct material quantity variance $1,500 unfavorable Direct material price variance $7500 favorable Direct Material Variances: Use the table below to compute question 1,2 and 3 Actual Quantity of Input, Actual Quantity of Input Purchased @ Standard Price Actual Quantity of Input Used, @ Standard Price @ Actual Price Standard Quantity Allowed for Actual Output, @ Standard Price (AQ X AP) (AQ SP) (AQ SP) (SQ SP) I 1- Actual kilograms of direct material used (2.5 points) 2- Actual price per kilogram of direct material purchased (2.5 points) 3- Total amount of direct material cost transferred to finished goods inventory (Tip: Standard Quantity Allowed for Actual Output at Standard Price) (2.5 points) Direct Labor Variances: Use the table below to compute question 4,5 and 6 Actual Quantity of Input, @ Actual Rate Actual Quantity of Input Purchased Standard Quantity Allowed for Actual Output, @ Standard Rate @ Standard Rate (AH X AR) (AH X SR) (SHX SR) 4- Direct labor rate variance (2.5 points) I 5- Direct labor efficiency variance (2.5 points) 6- Total amount of direct labor cost transferred to finished goods inventory (Tip: Standard Quantity Allowed for Actual Output at Standard Rate) (2.5 points)