Vaughn 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. Standard Actual Quantity Costs Project Quantity Costs Total Variance Rem 520 lbs. $1,248 450 lbs $1.170 $78 U Chang 400 920 410 1.066 146 F Wyco 620 1.674 550 1.430 244 U Total variance $176 U Prepare a variance report for the purchasing department (Round actual and standard price per pound answers to 2 decimal places es. 1.25) VAUGHN LANDSCAPING Variance Report - Purchasing Depan (a) Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places eg. 1.25.) VAUGHN LANDSCAPING Variance Report - Purchasing Depar For the Current Month Actual Pounds Purchased Actual Price Per Pound Standard Price Per Pound Project $ Remington Chang Wyco $ Total price variance (a) Prepare a variance report for the purchasing department (Round actual and standard price per pound answers to 2 decimal places eg. 1.25.) VAUGHN LANDSCAPING ce Report - Purchasing Department For the Current Month tandard rice Per Pound Price Variance Explanation S $ Favorable Unfavorable Neither favorable nor unfavorable a) Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places es. 1.25.) VAUGHN LANDSCAPING ce Report - Purchasing Department For the Current Month tandard rice Per Pound Price Variance Explanation $ $ Price/lb. Increased Seeds on Sale Purchased Higher quality Seeds Purchased Poor quality Seeds New Employee (6) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, eg. 1.25.) VAUGHN LANDSCAPING Variance Report - Production Depa For the Current Month Actual Pounds Standard Pounds Standard Price Per Pound Project $ $ Remington Chang I Wyco $ Total quantity variance (b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, eg 125.) VAUGHN LANDSCAPING ance Report - Production Department For the Current Month Standard Price Per Pound Quantity Variance Explanation S $ $
