Schmidt Machinery Company (Exhibit 14.5) used 3,530 pounds of aluminum in June to manufacture 936 units. The company paid $29.00 per pound during the month to purchase aluminum. On June 1, the company had 66 pounds of aluminum on hand. At the end of June, the company had only 46 pounds of aluminum in its warehouse. Schmidt used 5,350 direct labor-hours in June, at an average cost of $ per hour.

Compute for June:

1.Schmidt?s purchase-price and usage variances for aluminum.

2.Schmidt?s direct labor rate and efficiency variances.

\fEXHIBIT 14.5 Standard Cost Sheet, Product XVl SCHMIDT MACHINERY CDMPAHY Standard cast Sheet Product I'll-1 Descriptions Quantity Dnit Cost Subtotal Total Direct materials: Aluminum 4 pounds 325 $100 PVC 1 pound 4t] 40 Direct labor 5 hours 40 2d] Variable factory overhead 5 hours 12 E Total variable manufacturing cost $401] Fixed factory overhead\" 5 hours 24 E 120 Standard manufacturing cost per unit SE Standard variable selling and administralve expense per unit $ 5|] *Budgeted xed factory warhead cost = SIZDJIII}.