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21. Albaba Company has the following information available for its specialty product: Standards for one...

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Accounting

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21. Albaba Company has the following information available for its specialty product: Standards for one unit of product Direct Materials: 5 pounds at $2 per pound Direct Labor: 0.50 hour at $16 per hour Materials and Labor Used to produce 8,500 units Direct Materials: 46,000 pounds Direct Labor: 4,000 hours at $16.80 per hour ect Materials Price has an Unfavorable Variance of $4,600, what is the actual cost If the Dir per pound of direct materials used (3pts)? i. i. What is the labor price variance and is it favorable or unfavorable (3pts)? ii. What is the labor usage variance and is it favorable or unfavorable (3pts)? iv. Overall, is the actual total production cost of materials and labor favorable or unfavorable variance (3pts)

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