Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows:
| Standard wage per hour | $12.60 |
| Standard labor time per unit | 20 min. |
| Standard number of lbs. of brass | 1.2 lbs. |
| Standard price per lb. of brass | $12.25 |
| Actual price per lb. of brass | $12.50 |
| Actual lbs. of brass used during the week | 7,787 lbs. |
| Number of units produced during the week | 6,300 |
| Actual wage per hour | $12.98 |
| Actual hours for the week (40 employees × 35 hours) | 1,400 |
Required:
b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
| Direct Materials Price Variance | $fill in the blank 4 |
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| Direct Materials Quantity Variance | $fill in the blank 6 |
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| Total Direct Materials Cost Variance | $fill in the blank 8 |
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c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
| Direct Labor Rate Variance | $fill in the blank 10 |
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| Direct Labor Time Variance | $fill in the blank 12 |
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| Total Direct Labor Cost Variance | $fill in the blank 14 |
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