Primary Co. Candles Primary Co. estimates 785,000 candles will be made next month. Each candle 324 points requires 1 pound of wax. To start the month, Primary already has 16,000 pounds of wax. Primary also wants to end the month with 10,000 pounds of wax in inventory. Wax costs $1.24 per pound. 2 points What is the total expected cost for the wax that is being purchased? 34 Primary Co. has a standard materials price of $4.00 per pound and a standard direct labor rate of $18.00 per hour. Primary's actual direct materials price was $4 pound and paid direct labor of $17.50 per hour. Assume an actual materials usage of 26,000 pounds and actual labor totaling 8,000 hours. A. Calculate the direct materials price variance. Indicate whether the variance is favorable or unfavorable. B. Calculate the direct labor rate variance. Indicate whether the variance is favorable or unfavorable