attached are two questions...... please use attached templates for the answers thank you

QUESTION 3 Hernandez Corporation uses a standard cost system and has established the following standards for one unit of product: Standard StandardPrice StandardCost Quantity Direct materials Direct labor 10 pounds $2.60 per pound $26.00 .25 hour $10.00 per hour 2.50 $28.50 During October, the company purchased 240,000 pounds of material at a total cost of $588,000. The total factory wages for October were $49,400. During October, 21,000 units of product were manufactured using 211,000 pounds of material and 5,200 direct labor hours. Material quantity and price variances are recorded when materials are used. a. Compute the material quantity and labor efficiency variances. b. Compute the material price and labor rate variances. Show whether each of the above variances was either favorable or unfavorable. Please use the template provided below: QUESTION 1 The Joan Company uses the process cost system and average cost method. The following production data are for the month of July, 20. Production Costs Work in process, beginning of month: Materials $18,500 Labor 8,750 Factory overhead 4,850 $ 32,100 Costs incurred during month: Materials $93,500 Labor 42,450 Factory overhead 33,550 169,500 Total $201,600 Production Report Units In process, beginning of month 4,000 Finished and transferred during month 28,000 Work in process, end of month 10,000 Stage of completion 40% Prepare a cost of production summary for the month. Please use the template provided below: Template Quiz #3 Question 1.xlsx Name: Section: Standard Quantity or Hours Actual Quantity or Hours Difference Standard Price/Rate 1. Materials quantity variance lbs. lbs. /lb. 3. Labor efficiency variance hrs. hrs. /hr. Actual Quantity or Hours Variance Standard Price/Rate Actual Price/Rate Difference 2. Materials purchase price variance /lb. /lb. lbs. 4. Labor rate variance /hr. /hr. hrs. Variance Name: Section: Joan Company Cost of Production Summary For the Month Ended July, 20-Cost of work in process, beginning of month: Materials Labor Factory overhead Cost of production for month: Materials Labor Factory overhead Total costs to be accounted for Unit output for month: Finished and transferred to finished goods during month Equivalent units of work in process, end of month Total equivalent production Unit cost for month: Materials Labor Factory overhead Total Inventory costs: Costs of goods finished and transferred to finished goods during month Cost of work in process, end of month: Materials Labor Factory overhead Total Total production costs accounted for