Flexible Miler Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by June contribution format income statement below Act Budel Sales (6.000 pools) 3 20.000 $265.000 wabis Variable cost of goods sold 95.580 112,700 Variable selling expenses 14.000 14,000 To wible expenses 1000 Contbuon mergin 126 700 Frede 15520 138,300 Manufacturing overhead 3.000 63.000 Selling and dinistrative 78.000 78.000 Total expenses 161.000 Net operating income $ 14,420 5 2.7001 "Contains direct materials, direct labor, and variable manufacturing overhead Janet Dunn, who has just been appointed general manager of the Westwood Pant has been given indructions to get things under control Upon reviewing the late income, Ms Duas concluded that the major problem lies in the variable cost of goods sold. She has been provided with the following and cost per winning pool Standard any Standard Price Stand or Hour ora Cost Direct 3 pound $ 230 per pound 82 Dehus 5.90 per hour 52 144 Vrati mong the 0.6 hours 5 240 per hour Total standart per $ 150 Based on machine hours During Jure, the plant produced 6.000 pools and incurred the following con Purchased 26 400 pounds of material cost of 275 per bound Died 23.300 pounds of males in production and goods and work in process inventors are incant and can be red W 6.400 direct bor hours at a cost of $6.00 per hour d noured variable manuttuning overhead couting 510.920 for the Art of 3.900 machine hour was recorded it is me company's policy to close and to cost of goods sold on a month bass Required: 1. Compute the following are for Menu price and quantity variances Laboradores Vinatie overdrevence 2. Dunavances you come ove by owing the net vestuvo una crema Complete this question by entering your answers in the tabs below Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Budget Actudi $ 265,088 $265,000 Sales (6,000 pools) Variable expenses: Variable cost of goods solde Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling and administrative Total fixed expenses Net operating income (loss) 95,580 112,700 14,000 14,000 109,580 126,700 155,420 138,300 63,000 63,000 78,000 78,000 141,900 141,000 $ 14,420 $ (2,700) *Contains direct materials, direct labor, and variable manufacturing overhead Janet Dunn, who has just been appointed general manager of the Westwood Plant, has been given instructions to get things under control" Upon reviewing the plant's income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool Standard Quantity or Hours 3.9 pounds 0.8 hours 0.6 hours. Direct materials Direct Labor Variable manufacturing overhead Total standard cost per unit Standard Price or Rate $ 2.30 per pound $.6.90 per hour $ 2.40 per hour Standard Cost 58.97 5.52 1.44 $15.93 Based on machine hours. During June, the plant produced 6,0 pools and incurred the following costs: a. Purchased 28,400 pounds of materials at a cost of $2.75 per pound, Uned 23, 200 pounds of materials in production. (Finished goods and work in process inventories are insignificant and can be lonored