Direct Materials and Direct Labor Variance Analysis AbbevilleFixture Company manufactures faucets in a small manufacturingfacility. The faucets are made from brass. Manufacturing has 90employees. Each employee presently provides 36 hours of labor perweek. Information about a production week is as follows: Standardwage per hr. $15.00 Standard labor time per faucet 40 min. Standardnumber 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 usedduring the week 14,350 lbs. Number of faucets produced during theweek 4,800 Actual wage per hr. $14.40 Actual hrs. for the week (90employees × 36 hours) 3,240 hrs. Required: a. Determine thestandard cost per unit for direct materials and direct labor. Roundthe cost per unit to two decimal places. Direct materials standardcost per unit $ 7.20 Direct labor standard cost per unit $ 10 Totalstandard cost per unit $ 17.20 b. Determine the direct materialsprice variance, direct materials quantity variance, and totaldirect materials cost variance. Enter a favorable variance as anegative number using a minus sign and an unfavorable variance as apositive number. Direct Materials Price Variance $ UnfavorableDirect Materials Quantity Variance $ Favorable Total DirectMaterials Cost Variance $ Unfavorable c. Determine the direct laborrate variance, direct labor time variance, and total direct laborcost variance. Enter a favorable variance as a negative numberusing a minus sign and an unfavorable variance as a positivenumber. Direct Labor Rate Variance $ Favorable Direct Labor TimeVariance $ Unfavorable Total Direct Labor Cost Variance $ FavorableFeedback Unfavorable variances can be thought of as increasingcosts (a debit). Favorable variances can be thought of asdecreasing costs (a credit). Learning Objective 2, LearningObjective 3.