Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are… 1 answer below »

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Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 90 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hr…………………………………………..$15.00 Standard labor time per faucet………………………………….40 min. Standard number of lbs. of brass………………………………………3 lbs. Standard price per lb. of brass…………………………………..$2.40 Actual price per lb. of brass……………………………………..$2.50 Actual lbs. of brass used during the week………………….14,350 lbs. Number of faucets produced during the week…………………………4,800 Actual wage per hr……………………………………………..$14.40 Actual hrs. for the week (90 employees × 36 hours)…………….3,240 Instructions Determine (A) The standard cost per unit for direct materials and direct labor; (B) The direct materials price variance, direct materials quantity variance, and total direct materials cost variance; and (C) The direct labor rate variance, direct labor time variance, and total direct labor cost variance.

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