Please do not give solution in image format thanku At the beginning of June, Geppetto's Toy Company budgeted24,000 toy action figures to be manufactured in June atstandard direct materials and direct labor costs as follows:Direct materialsDirect laborActual direct materialsTotal$56,400The standard materials price is $0.50 per pound. The standarddirect labor rate is $12.00 per hour. At the end of June, theactual direct materials and direct labor costs were as follows:Actual direct labor$42,000Total14,400$37,700$50,600There were no direct materials price or direct labor ratevariances for June. In addition, assume no changes in the directmaterials inventory balances in June. Geppetto's Toy Companyactually produced 20,900 units during June.12,900Determine the direct materials quantity and direct labor timevariances. Round your per unit computations to two decimalplaces, if required. Enter a favorable variance as a negativenumber using a minus sign and an unfavorable variance as apositive number.Direct labor time varianceDirect materials quantity variance$fill in the blank 1$fill in the blank 3FavoralFavoral

Name: Please do not give solution in image format thanku At the beginning of
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Please do not give solution in image format thanku At the beginning of June, Geppetto's Toy Company budgeted24,000 toy action figures to be manufactured in June atstandard direct materials and direct labor costs as follows:Direct materialsDirect labo