Problem 10-34 Materials and Labour Variances; Computations from Incomplete Data [LO1, LO2, LO3] Grand River Manufacturing produces a metal flange that it sells to several local home building supply retailers. The company has set standards as follows for materials and labour: Standard quantity or hours per unit Standard price or rate Standard cost per unit Direct Materials 1.5 kilograms $3 per kilogram $4.50 Direct Labour ? hours $? per hour $? During the past month, the company purchased 1,500 kilograms of direct materials at a cost of $4,200. All of this material was used in the production of 840 units of product using 425 hours of direct labour. Direct labour cost totalled $4,675 for the month. The following variances have been computed: Labour rate variance Total labour variance Materials quantity variance $ $ $ 425 U 375 F 750 U Required: 1. Compute the following for direct labour. (Round "hours per unit" answer to 2 decimal places.) a. Standard rate per hour for labour. Standard quantity allowed for labour for the month's hrs. . production C. Standard quantity of labour allowed per unit of product. hr(s) per unit 2. Compute the following for direct materials. (Round your answers to 2 decimal places.) a. Actual direct materials cost per kilogram for the month. b. Materials price variance