Chapter 22 Assignment eBook Show Me How Calculator Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 70 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows Standard wage per hour Standard labor time per faucet Standard number of lbs. of brass Standard price per lb. of brass Actual price per lb. of brass Actual Ibs. of brass used during the week Number of faucets produced during the week Actual wage per hour Actual hours per week (70 employees 40 hours) 2,800 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 faucet Direct labor standard cost per faucet Total standard cost per faucet b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance Quantity variance Total direct materials cost variance c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Rate variance Time variance Total direct labor cost variance $11.4 20 min. 1.2 lbs. $11.5 $11.75 9,641 lbs. 7,800 $11.74 13.8 Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable