(b) Diane Buswell examined some of the accounting records and reported that Current Designs purchased 2,430 pounds of polyethylene powder for this order at a total cost of $6,561. Forty (40) finishing kits were assembled at a total cost of $6,920. The payroll records showed that the type I employees worked 76 hours on this project at a total cost of $1,292. The type II finishing employees worked 130 hours at a total cost of $1,852.50. A total of 40 kayaks were produced for this order. The standards that had been developed for this model of kayak were used in CD2 and are reproduced for each kayak:

57 pounds of polyethylene powder at $2.50 per pound.

1 finishing kit (rope, seat, hardware, etc.) at $185

2 hours of type I labor from people who run the oven and trim the plastic at a standard wage rate of $17 per hour.

3 hours of type II from people who attached the hatches and seat and other hardware at a standard wage rate of $14 per hour.

Calculate the eight variances that are listed below.

Quantity variance for polyethylene powder $ Unfavorable/Favorable/Neither

Price variance for polyethylene powder $ Unfavorable/Favorable/Neither

Quality variance for finishing kits $ Unfavorable/Favorable/Neither

Price variance for finishing kits

Quantity variance for type I workers $ Unfavorable/Favorable/Neither

Price variance for type I workers $ Unfavorable/Favorable/Neither

Quantity variance for type II workers $ Unfavorable/Favorable/Neither

Price variance for type II workers $ Unfavorable/Favorable/Neither