Exercise 10-1 (Algo) Direct Materials Variances (L010-1] Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,480 kilograms of plastic. The plastic cost the company $18,848 According to the standard cost card, each helmet should require 0.54 kilograms of plastic, at a cost of $8.00 per kilogram Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 4,000 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 4,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect fi.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Standard quantity of kilograms lowed 2 Standard cost allowed for actual output 3. Materials spending variance 4 Material price vanance Material quantity vanance Exercise 10-2 (Algo) Direct Labor Variances [LO10-2] SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 6,200 of these meals using 1200 direct labor-hours. The company paid its direct labor workers a total of $10,800 for this work, or $9.00 per hour. According to the standard cost card for this meal, it should require 0.20 direct labor-hours at a cost of $8.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 6.200 meals? 2. What is the standard labor cost allowed (SHSR) to prepare 6,200 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values. Do not round Intermediate calculations.) 1 Standard tabor hours allowed 2 Standard labor cost allowed 3. Labor spending variance 4 Laborrate variance 4 Labor efficiency vance