Variance Analysis (Points: 30) Easyflow Co. Inc. manufactures faucets in a small manufacturing facility. The faucets are made from zinc. The manufacturing department has 60 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $18.00 Standard labor times per faucet 12 min. Standard number of lb. of zinc 0.08 lbs. Standard price per lb. of zinc $1.25 Number of faucets produced during the week 12,000 Actual wage per hr. $18.75 Actual hrs. per week 2,160 hrs. Actual lbs. of zinc used during the week 10,200 lbs. Actual price per lb. of zinc $1.40 Determine: a. The standard cost per unit of direct materials and direct labor. b. The price variance, quality variance, and total direct materials cost variance. c. The rate variance, time variance and direct labor cost variance.