Exercise 10-1 (Algo) Direct Materials Variances [LO10-1] 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 3,500 heimets, using 2,555 kilograms of plastic. The plastic cost the company $16,863 According to the standard cost card, each helmet should require 0.67 kilograms of plastic, at a cost of $7,00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to moke 3.500 helmets? 2. What is the standard materials cost -llowed (SQ SP SP) to make 3.500 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 (i.e, zero variance). Input all amounts as positive values. Do not round Intermediate calculations.)