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Business, 04.08.2020 16:01 Joshyy23

Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 70 employees. Each employee presently provides 38 hours of labor per week. Information about a production week is as follows:Standard wage per hr. $20.00 Standard labor time per faucet 30 min. Standard number of lbs. of brass 2.5 lbs. Standard price per lb. of brass $1.80 Actual price per lb. of brass $1.95 Actual lbs. of brass used during the week 13,000 lbs. Number of faucets produced during the week 5,000 Actual wage per hr. $18.75 Actual hrs. for the week (70 employees ร— 38 hours) 2,660Required:a. Determine the standard cost per unit for direct materials and direct labor. b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.

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