Direct Materials and Direct Labor Variance Analysis
Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has employees. Each employee presently provides hours of labor per week. Information about a production week is as follows:
Standard wage per hr $
Standard labor time per faucet min.
Standard number of lb of brass lb
Standard price per lb of brass $
Actual price per lb of brass $
Actual lb of brass used during the week lb
Number of faucets produced during the week
Actual wage per hr $
Actual hrs per week hrs
Required:
a Determine the standard cost per faucet for direct materials and direct labor. Round the cost per unit to two decimal places.
