Exercise 8-4 Direct Materials Variances LO8-4] 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. the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. The plastic cost the company S171,000 the quarter ending June 30, According to the standard cost card, each helmet should require 0.8 kilograms of plastic, at a cost of $8 per kilogram Required 1. According to the standards, what cost for plastic should have been incurred to make 35,000 helmets? How much greater or less is this than the cost that was incurred? (Round Standard kilograms of plastic per helmet to 1 decimal place.) Number of helmets Standard kilograms of plastic per h Total standard kilograms allowed Standard cost per kilogram Total standard cost Actual cost incurred Total standard cost Total material variance-unfavorable elmet 2. Break down the difference computed in (1) above into a materials price variance and a materials quantity variance (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie., zero variance).) Materials price varian0e Materials quantity variance