The Hayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. The standards per 0.50-gallon can of chemical call for 1.10 gallons of material and 1.40 hours of labor. (1.10 gallons of material are needed to produce a 0.50-gallon can of product due to evaporation.) The standard cost per gallon of material is $7. The standard cost per hour for labor is $8. Overhead is applied at the rate of $7.06 per can. Expected production is 18,600 cans with fixed overhead per year of $38,316 and variable overhead of $5 per unit (a 0.50-gallon can). During 2021, 25,300 cans were produced; 38,200 gallons of material were purchased at a cost of $252,502; 32,800 gallons of material were used in production. The cost of direct labor incurred in 2021 was $288,743 based on an average actual wage rate of $8.52 per hour. Actual overhead for 2021 was $220,700.

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Determine the standard cost per unit. (Round answer to 2 decimal places, e.g. 15.25.)

Standard cost

$enter standard cost in dollar amount

per unit

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Calculate material, labor, and overhead variances. (Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Material Price Variance		$enter material price variance as a dollar amount		select an option FavorableUnfavorableNeither Unfavorable nor Favorable
Material Quantity Variance		$enter material quantity variance as a dollar amount		select an option FavorableNeither Unfavorable nor FavorableUnfavorable
Labor Rate Variance		$enter labor rate variance as a dollar amount		select an option UnfavorableNeither Unfavorable nor FavorableFavorable
Labor Efficiency Variance		$enter labor efficiency variance as a dollar amount		select an option Neither Unfavorable nor FavorableFavorableUnfavorable
Controllable Overhead Variance		$enter controlled overhead variance as a dollar amount		select an option UnfavorableFavorableNeither Unfavorable nor Favorable
Overhead Volume Variance		$enter overhead volume variance as a dollar amount		select an option Neither Unfavorable nor FavorableFavorableUnfavorable