Hello, I am having trouble with my homework. If someone could assist, I would greatly appreciate it. There are 4 questions in total on the attached document. Thanks

Setting Standards, Materials and Labor Variances Tom Belford and Tony Sorrentino own a small business devoted to kitchen and bath granite installations. Recently, building contractors have insisted on up-front bid prices for a house rather than the cost-plus system that Tom and Tony were used to. They worry because natural flaws in the granite make it impossible to tell in advance exactly how much granite will be used on a particular job. In addition, granite can be easily broken, meaning that Tom or Tony could ruin a slab and would need to start over with a new one. Sometimes the improperly cut pieces could be used for smaller installations, sometimes not. All their accounting is done by a local certified public accounting firm headed by Charlene Davenport. Charlene listened to their concerns and suggested that it might be time to implement tighter controls by setting up a standard costing system. Charlene reviewed the invoices pertaining to a number of Tom and Tony's previous jobs to determine the average amount of granite and glue needed per square foot. She then updated prices on both materials to reflect current conditions. The standards she developed for one square foot of counter installed were as follows: Granite, per square foot Glue (10 oz. @ $0.15) $50.0 0 1.50 Direct labor hours: Cutting labor (0.10 hr. @ $15) 1.50 Installation labor (0.25 hr. @ $25) 6.25 These standards assumed that one seamless counter requires one sink cut (the space into which the sink will fit) as well as cutting the counter to fit the space available. Charlene tracked the actual costs incurred by Tom and Tony for granite installation for the next six months. She found that they completed 50 jobs with an average of 32 square feet of granite installed in each one. The following information on actual amounts used and cost was gathered: Granite purchased and used (1,640 sq. ft.) Glue purchased and used (16,000 oz.) $80,548 $2,560 Actual hours cutting labor 180 Actual hours installation labor 410 The actual wage rate for cutting and installation labor remained unchanged from the standard rate. Required: If an amount is zero, enter "0" and select neither from the dropdown. If required, enter favorable values as negative numbers. 1. Calculate the materials price variances and materials usage variances for granite and for glue for the past six months. Granite $ Materials price variance Favorable $ Materials usage variance Unfavorable Glue $ Materials price variance Unfavorable $ Materials usage variance Neither 2. Calculate the labor rate variances and labor efficiency variances for cutting labor and for installation labor for the past six months. Cutting Labor $ Labor rate variance Neither $ Labor efficiency variance Unfavorable Installation Labor $ Labor rate variance Neither $ Labor efficiency variance Unfavorable Operating Budget, Comprehensive Analysis Allison Manufacturing produces a subassembly used in the production of jet aircraft engines. The assembly is sold to engine manufacturers and aircraft maintenance facilities. Projected sales in units for the coming five months follow: January 40,000 February 50,000 March 60,000 April 60,000 May 62,000 The following data pertain to production policies and manufacturing specifications followed by Allison Manufacturing: a. Finished goods inventory on January 1 is 32,000 units, each costing $166.06. The desired ending inventory for each month is 80% of the next month's sales. b. The data on materials used are as follows: Direct Material Metal Components c. Per-Unit Usage DM Unit Cost ($) 10 lbs. 8 6 5 Inventory policy dictates that sufficient materials be on hand at the end of the month to produce 50% of the next month's production needs. This is exactly the amount of material on hand on December 31 of the prior year. d. The direct labor used per unit of output is three hours. The average direct labor cost per hour is $14.25. e. Overhead each month is estimated using a flexible budget formula. (Note: Activity is measured in direct labor hours.) Fixed-Cost Variable-Cost Component ($) Component ($) Supplies 1.00 Power 0.50 Maintenance 30,000 0.40 Supervision 16,000 200,000 Taxes 12,000 Other 80,000 0.50 Depreciation f. Monthly selling and administrative expenses are also estimated using a flexible budgeting formula. (Note: Activity is measured in units sold.) Fixed Costs ($) Salaries Variable Costs ($) 50,000 Commissions Depreciation 40,000 Shipping Other g. 2.00 1.00 20,000 0.60 The unit selling price of the subassembly is $205. h. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid at the end of the quarter, as is the interest due (cash borrowed at the end of the quarter is repaid at the end of the following quarter). The interest rate is 12% per annum. No money is owed at the beginning of January. c. Schedule 3: Direct Materials Purchases Budget. Do not include a multiplication symbol as part of your answer. January Metal Units to be produced Direct materials per unit Production needs Desired ending inventory Total needs Less: Beginning inventory Direct materials to be purchased Cost per $ unit January Components Allison Manufacturing Direct Materials Purchases Budget For the Quarter Ended March 31 February February March Metal Metal Components March Components Total Metal Total Components $ $ $ $ $ $ $ Total cost i. $ $ $ $ $ $ $ $ Feedback Schedule 5: Overhead Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Overhead Budget For the Quarter Ended March 31 January February March Budgeted direct labor hours Variable $ overhead rate Budgeted $ variable overhead Budgeted fixed overhead $ Total overhead Total $ $ $ $ $ $ $ $ $