Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 30 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $14.40 Standard labor time per faucet 10 min. Standard number of lb. of brass 1.50 lb. Standard price per lb. of brass $12.50 Actual price per lb. of brass $12.75 Actual lb. of brass used during the week 10,700 lb. Number of faucets produced during the week 6,900 Actual wage per hr. $14.80 Actual hrs. per week 1,050 hrs. Required: a.  Determine the standard cost per faucet for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit $ Direct labor standard cost per unit   Total standard cost per unit $ b.  Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct materials price variance $   Direct materials quantity variance     Total direct materials cost variance $   c.  Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct labor rate variance $   Direct labor time variance     Total direct labor cost variance $

Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 60 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.80 Standard labor time per unit 20 min. Standard number of Ibs. of brass 1.3 lbs. Standard price per Ib. of brass $9.75 Actual price per Ib. of brass $10.00 Actual Ibs. of brass used during the week 8,034 lbs. Number of units produced during the week 6,000 Actual wage per hour $14.21 Actual hours for the week (60 employees x 32 hours) 1,920 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit 13 X Direct labor standard cost per unit 4.6 V Total standard cost per unit 17.3 X b. Determine the direct materials price variance, direct…

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Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hour $15.6 Standard labor time per unit 15 min. Standard number of lbs. of brass 2 lbs. Standard price per lb. of brass $11.25 Actual price per lb. of brass $11.5 Actual lbs. of brass used during the week 17,922 lbs. Number of units produced during the week 8,700 Actual wage per hour $16.07 Actual hours for the week (30 employees × 40 hours) 1,200 hrs. Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit $fill in the blank 1 Direct labor standard cost per unit $fill in the blank 2 Total standard cost per unit $fill in…