1. Compute the following variances for june: A. materials price abd quantity variances. B. labor rate abd efficiency variances.

Miller Toy Company manufactures a plastic swimmine pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Janet Dunn, who has just been appointed eeneral manager of the Westwood Plant, has been eiven instructions to "get thines under control." Upon reviewing the plant's income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold. She has been provided with the followine standard cost per swimming pool: Durine June the plant produced 15,000 pools and incurred the followine costs a. Purchased 60,000 pounds of materials at a cost of $4.95 per pound b. Used 49,200 pounds of materials in production. (Finished goods and work in process inventories are insienificant and can be c. Worked 11,800 direct labor-hours at a cost of $17,00 per hour. d. Incurred variable manufacturine overhead cost totaline $18,290 for the month. A total of 5.900 machine-hours was recorded. It is the company's policy to close all variances to cost of goods sold on a monthly basis. Version 1 10 REQUIRED: (SHOW YOUR WORK) 1. Compute the followine variances for June: a. Materials price and quantity variances. b. Labor rate and efficiency variances