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A company has the following information: Standard Quantity Standard Rate...

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Accounting

A company has the following information:

Standard Quantity Standard Rate
Direct materials 18 yards $0.05 per gallons
Direct labor 1.2 hour $11.00 per hour

The number of products sold is 380. The company used 6,800 yards of direct materials and paid $544). The company also used direct labor of 320 hours and paid $3,840.

Calculate the direct materials variances.

Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

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Direct Material Price Variance
Direct Material Quantity Variance

Calculate direct labor variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your answers to nearest dollar amount.

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Direct Labor Rate Variance
Direct Labor Efficiency Variance

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