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follow the first picture requirements (highlighted with 499) to solve these questions Question 3: Chapter 11: Standard Costs and Variances; page 499: 1. Exercise 11-1,

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Question 3: Chapter 11: Standard Costs and Variances; page 499: 1. Exercise 11-1, Calculate materials price and quantity variances. (1 mark) II. Exercise 11-2, Calculate Labor rate and labor efficiency variances. (1 mark) EXERCISE 11-1 Direct Materials Variances [LO 11-1] 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 35,000 helmets, using 22,500 kilograms of plastic. The plastic cost the company $171,000. According to the standard cost card, each helmet should require 0.6 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? hips ifextsow mheducation comvarser php? 117escose ife Wrebarin 2. Page 499 Break down the difference computed in requirement I into a materials price vaniance and a materials quantity variance. EXERCISE 11-2 Direct Labor Variances [LO 11-2] SkyChefs, Ine., prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,000 of these meals using 960 direct labor-hours. The company paid these direct labor workers a total of $9,600 for this work, or $10.00 per hour. According to the standard cost card for this meal, it should require 0.25 direct labor-hours at a cost of $9.75 per hour. Required: 1. According to the standards, what direct labor cost should have been incurred to prepare 4,000 meals? How much does this differ from the actual direct labor cost? 2. Break down the difference computed in requirement I into a labor rate variance and a labor efficiency variance

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