e11.14Prepare a variance report for the purchasing department

Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.)

Picard Landscaping plants grass seed as the basic landscaping for business campuses. During a recent month, the companyworked 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 toprovide 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 Varlance 540 lbs. $1,296 450 lbs. $1.125 920 410 $171 U 105 F 340 U $406 U Chang Wyco 400 650 1,025 1.350 1690 540 Total variance Prepare a variance report for the urchasing department. (Round actual and standard price per pound answers to 2 decimal places eg. 1.25) department PICARD LANDSCAPING Variance Report-Purchasing Department For the Current Month Actual Actual Price Per Pound Standard Price Per Price Variance Pro Purchased Explanation Chang Wyco Total price variance repare a variance report for the production t (Round standard price per pound to 2 decimal places,es. 125 PICARD LANDSCAP Variance Report-Production Department For the Current Month Standard Price Per Pound Actual Standard Quantity Variance Remingtorn Chang Wyco Total quantity variance eTextbook and Media