Exercise 10-1 Direct Materials Variances [LO10-1] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market requires a special plastic. During the quarter ending June 30, the company manufactured 3,000 helmets, using 2,130 kilograms of plastic. The plastic cost the company $16,188 According to the standard cost card, each helmet should require 0.63 kilograms of plastic, at a cost of $8.00 per killogram. Required: 1.According to the standards, what cost for plastic should have been incurred to make 3,000 helmets? How much greater or less is this than the cost that was incurred? (Round Standard kilograms of plastic per helmet to 2 decimal places.) Number of helmets Standard killograms of astic per helmet Total standard killograms allowed Standard cost per kilogram 3,000 0.63 1,890 8.00 Total standard cost Actual cost incurred Total standard cost 16,188 15,120 2.Break down the difference computed in (1) above into a materials price variance and a materials quantity variance. (Round your actual materials price to two decimal places, and round your final answers to the nearest whole dollar. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) Materials price Materials quantity