C) the firm used a new direct material supplier last month, Based on results would you recommend the firm continue to use the new supplier?

B C M O Q1 The Geneva Chocolate Company manufactures premium chocolate. The operating data for the past month are summarized as follows: Q1 sub 12. 1. Produced 2,000 boxes of chocolates 2. Direct materials: a. Purchased 5,000 kilograms @ $11.35 per kilogram; standard price is $12 per kilogram b. Used 4,125 kilograms; standard quantity is 2 kilograms per box 3. Direct labour: a. Actual cost was $34,200 for 2,240 hours worked b. Standard hours per box produced, 1.10 hours; standard rate per hour, $15 4. Variable overhead based on DLH, standard rate is $3.50 Required: 3)_Prepare a Standard Cost Card (variable production) for 1 box of chocolates (2 marks) Standard Price/| Standard Cost/ Standard Qty/ Hr Rate Cover Supporting calculations Direct materals 20 Direct labour Variable manufacturing ohd Total a) Calculate the direct material price variance and direct material quantity variance (4 marks) Material Price and Quantity Variances MPV = MOV = Supporting calculations b) Calculate the direct labour rate variance and the direct labour efficiency variance (4 marks) LRV = LEV = Supporting calculations