I just ti maie sure that I am on the right track and if you can help me out by filling in the blank spaces.... PLZ help ASAP!

N P Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor- hours and its standard cost card per unit is as follows: Inputs Direct materials Direct labor Variable overhead Total standard cost per unit (10) (2) Standard Standard Quantity Price or Hours or Rate 5 pounds $8.00 per pound 2 hours $14 per hour 2 hours $5 por hour Standard Cost (1) (2 $40.00 28.00 10.00 $78.00 19 14 15 The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and incurred the following costs: 16 37 18 19 a. Purchased 160,000 polinds of raw materials at a cost of $7.50 per pound. All of this material was used in production b. Direct laborers worked 55.000 hours at a rate of $15,00 per hour. 6. Total variable manufacturing overhead for the month was $280,500. 20 11. What raw materials cost would be included in the company's planning budget for March? 2 3 4 5 5 6 Planned level of activity (units) Raw materials required per unit (pounds) Total raw materials needed Cost of raw material/pound Cost of raw material in Planning Budget 25000 40 1,000,000 8 9 10 17 12 D E F 2. What raw materials cost would be included in the company's flexible budget for March? 3. What is the materials price variance for March? 4. What is the materials quantity variance for March? 5 62) 7 Raw materials included in flexible budget: 8 9 10 Actual units produced Raw materials allowed/unit Total raw materials allowed Cost of raw materials/unit Cost of raw materials included in flexible budget 11 30000 $40 1200000 12 13 3) Materials Price Variance: AQ( AP-SP) Actual price of materials/ pound (a) Standard price of materials/ pound (b) Variance (a)-(b) = (c) 0 Actual quantity of raw materials used (pounds) 1 Materials price variance (c) x (d) 8 7.5 0.5 160000 80000 Favorable 2 30 64) Materials Quantity Variance: 27 SP (AQ -SO) 28 Standard quantity of materials allowed: 29 Actual units produced (a) 160000 Standard quantity allowed per unit (b) 150000 31 Total quantity allowed (c) 10000 Actual quantity of materials used (d) 8 **Materials Quantity Variance 80000 Unfavorable 34 **If actual quantity of materials used exceed standard quantity of materials allowed, 36 materials quantity variance would be unfavorable and vice versa, 32 33 35 AN