(SHOW YOUR WORK FOR EACH PROBLEM)

To produce one finished good, a manufacturer uses a standard of 4 square feet. During the month of September, the company pays $45,000 to purchase 10,000 square feet of materials. The company incurs a $5,000 favorable direct materials price variance and a $2,000 unfavorable quantity variance. Calculate the following and determine if variances are favorable or unfavorable: a. Direct materials cost variance b. Standard cost per square foot of direct materials c. Number of units produced Each lamp manufactured at Bright Light uses a standard of 0.75 hours to produce. Production employees are paid a $9 hourly wage. The company incurred 5,000 direct labor hours at a cost of $47, 500 to produce 6, 700 lamps. Calculate the following variances and determine if it is considered favorable or unfavorable: a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance To produce one finished good, RPC Corporation sets a standard of 0.9 hours at a rate of $10 per hour. When producing 10,000 finished goods, the company incurs a $5,000 favorable time variance, although the company actually paid employees an hourly rate of $10.50. Calculate the following and determine if variances are favorable or unfavorable: a. Direct labor rate variance b. Direct labor cost variance c. Number of actual hours Employees at WFU Corporation are paid at an hourly rate of $9.75. The company incurs direct labor costs of $20,000 when employees were paid $10 per hour during a period. The company's direct labor cost variance is unfavorable by $4, 400. Calculate the following and determine if variances are favorable or unfavorable: a. Direct labor rate variance b. Direct labor time variance c. Standard hours per unit if 8,000 units are made