The Following Data Are for the Month of April for Scott

Essay

The following data are for the month of April for Scott Corporation, a company that makes trophies. $\begin{array}{llll}&\text { Standard Inputs } & \text { Standard } \\&\text { Expected for Each } & \text { Price per } \\&\text { Unit of Output } & \text { Unit of Input }\\\text { Direct material } & 5 \text { pounds } & \$ 12 \text { perpound } \\\text { Direct labor } & 15 \text { hours } & \$ 12 \text { per hour }\end{array}$ During the month of April the company actually produced 1,000 trophies, which is 100 units less than expected. Direct material purchased and used amounted to 5,500 pounds at a cost of $12.50 per pound. Actual direct labor was 1,450 hours at an actual cost of $13.00 per hour.
Required:
a. What is the standard cost per statue for direct material and direct labor?
b. Compute the price and usage variances for direct material and direct labor.