Fancy Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 100 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows:

Standard wage per hr. .............................$21.00

Standard labor time per faucet .................. 20 min.

Standard number of lbs. of brass ............... 5 lbs.

Standard price per lb. of brass .................. $2.80

Actual price per lb. of brass .................... $2.72

Actual lbs. of brass used during the week ...59,875 lbs.

Number of faucets produced during the week ....11,820

Actual wage per hr. ...........................$21.40

Actual hrs. for the week ..................... 4,000 hrs

Instructions

Determine

(a) The standard cost per unit for direct materials and direct labor;

(b) The direct materials price variance, direct materials quantity variance, and total direct materials cost variance; and

(c) The direct labor rate variance, direct labor time variance, and total direct labor cost variance.