1 of 4 < < 7/10 E Chris Landscaping plants grass seed as the basic landscaping for business campuses. During a recent month, the company worked on three projects (Remington, Chang, and Wyco). The company is interested in controlling the materials costs, namely the grass seed, for these plantings projects. In order to provide management with useful cost control information, the company uses standard costs and prepares monthly variance reports. Analysis reveals that the purchasing agent mistakenly purchased poor-quality seed for the Remington project. The Chang project, however, received higher-than-standard-quality seed that was on sale. The Wyco project received standard-quality seed. However, the price had increased and a new employee was used to spread the seed. Shown below are quantity and cost data for each project. Actual Standard Project Quantity Costs Quantity Costs Total Variance Remington 520 lbs. $1,248 460 lbs. $1,196 $52 U Chang 400 880 410 1,066 186 F Wyco 550 1,485 420 1,092 393 U Total variance $259 U (a) nort for the purchasing department (Round actual and standard price per pound answers to 2 decimal places eg Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places eg 1.25) Project Actual Pounds Purchased Remington Chang Wyco Total price variance (b) 520 400 CHRIS LANDSCAPING Variance Report-Purchasing Depar For the Current Month Actual Price Per Standard Price Per Pound Pound 2.40 $ 260 $ 2.201 2.60 260 270 550 Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, eg. 1.25) $ CHRIS LANDSCAPING ce Report Purchasing Department For the Current Month tandard rice Per Pound (b) Price Variance Explanation 260 104 Favorable Purchased Hieher quality Seeds 2.60 160 Favorable Price/lb. Increased 260 (55) Unfavorable Purchased Higher quality Seeds $ 209 Favorable tion dansement Dund standard nrice ner nound to 2 decimal places. ex. 1.25.) (b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, eg. 1.25) CHRIS LANDSCAPING Variance Report - Production Depa For the Current Month Actual Project Pounds Remington Chang Wyco Total quantity variance eTextbook and Media 520 Standard Pounds 460 $ 410 400 Standard Price Per Pound 2.60 $ 2.60 420 200 550 (b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, eg. 1.25.) CHRIS LANDSCAPING ce Report - Production Department For the Current Month andard ice Per Pound Quantity Variance Explanation 260 (156) Unfavorable Price/lb. Increased 2.60 26 Favorable New Emolovee 260 (338) Unfavorable Purchased Poor-quality Seeds 472 Unfavorable