Harmon Household Products, Inc., manufactures a number of consumer items for general household use. One of these products, a chopping board, requires an expensive hardwood. During a recent month, the company manufactured 3,700 chopping boards using 2,590 board feet of hardwood. The hardwood cost the company $19,684.

The companys standards for one chopping board are 0.64 board feet of hardwood, at a cost of $8.00 per board foot.

Required:
1a.	According to the standards, what cost for wood should have been incurred to make 3,700 chopping blocks? (Omit the "$" sign in your response.)

Total standard cost

$ 18944

1b.

How much greater or less is this than the cost that was incurred? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)

Spending variance

$ 740 U

2.

Break down the difference computed in (1) above into a materials price variance and a materials quantity variance.(Input all amounts as positive values. Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)

Materials price variance	$ F
Materials quantity variance	$ U

I just need assistance with Part 2. I posted my answers for Part 1 r