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Dynamic Industrial is a relatively young company, with an unsophisticated accounting system. Dynamic Industrial manufactures two products, X370A, and Z410B. Each of the products has multiple components and materials (identified by SKU number), but assembly is relatively quick leaving no work in process inventory at the end of the period. Invoices are only logged and approved for payment if the full quantity of the SKU has been received. 1) Using the information provided, calculate the Materials Price and Materials Quantity variance for each component/material for 2021. The beginning and ending inventory accounts for each product (units of output) are provided below: Beginning Inventory Count Ending Inventory Count Units Sold X370A 5,040 4,040 18,220 Z410B 3,130 2,005 17,000 The company uses FIFO to value all inventory ISKU G Standard Material per Unit of Product Product X370A X370A X370A X370A X370A X370A X370A X370A X370A 24103 24100 Z410B 24100 524100 6 7 C Primary Vendor 100525 Alpha 101652 Alpha 108900 Alpha 202456 American Products 555874 Giant Wholesale 555902 Giant Wholesale 825600 Technical innovations 825605 Technical Innovations 825608 Technical Innovations 110852 Alpha 111568 Npha 118741 Alpha 119561 Alpha 555916 Giant Wholesale D Standard Cost Standard Material Unit S 1.25 $ 1.50 $ 1.75 ft $ 10.75 N/A $ 0.05 S 0.08 $ 3.00 N/A $ 3.00 N/A $ 150 N/A $ 1.10 $ 1.40 $ 1.79 $ 1.79 $ 0.08 Terms 0.2 Net 30 0.2 Net 10 0.5 Net 30 6 Net 60 2 Net 10 2 Net 30 1 Net 30 1 Net 30 1 Net 10 0.2 Net 30 0.2 Net 10 0.4 Net 3 01 Net 30 4 Net 30 20 21 22 23 24 25 26 27 28 29 30 31 32 33 36 38 39 40 42 43 44 Inventory Information Purchasing Information Product Standards Accounts Payable Sammy Ready E F SKU Primary Vendor 100525 Alpha 101652 Alpha 108900 Alpha 110852 Alpha 111568 Alpha 118741 Alpha 119561 Alpha 202456 American Products 555874 Giant Wholesale 555902 Giant Wholesale 555916 Giant Wholesale 825600 Technical Innovations 825605 Technical Innovations 825608 Technical Innovations Standard Material Unit ft ft ft ft ft ft ft N/A ft ft ft N/A N/A N/A D Beginning Inventory 395.00 855.00 4,985.00 1,235.00 1,340.00 1,980.00 80.00 3,972.00 10,101.00 12,760.00 12,520.00 2,976.00 2,932.00 951.00 Ending Inventory 405.00 1,005.00 4,305.00 1,335.00 1,145.00 2,045.00 685.00 5,571.00 14,905.00 27,090.00 30,980.00 609.00 694.00 4,173.00 Product Standards Inventory Information eady Purchasing Information Accounts J36 3 K L M 5409 D 1 Purchase ordPO Date Pustha Vendor 5199 12/4/10 A Technical Innovations 5400 12/5/20 Chris Alpha 5400 12/5/20 Chris Alpha 5400 12/5/20 CM Alpha 6 5400 12/5/20 ch Alpha 7 5400 12/5/20 Chns Alpha 5400 17/5/20 Chris Alpha 5400 12/5/20 hs Alpha 10 5401 12/9/20 Ne Technical Innovations 11 5401 12/9/20 Alex Technical Innovation 5403 12/12/20 PM Gat Wholesale 13 5403 12/12/20 Pa Gut Wholesale 14 5603 12/12/20 PM Gant Wholesale 15 5404 12/12/20 Pa American Products 5405 12/28/20 Chn's Alpha 17 5405 12/28/20 Chris Alpha 11 5405 12/28/20 Chit Alpha 15 5405 12/28/20 Chris Alpha 20 5406 1/1/21 Ne Technical Innovations 21 5408 1/5/21 PM Gant Wholesale 22 5408 1/5/21 Put Gant Wholesale 21 5408 1/5/21 PM Gw Wholesale 24 549 11/21 A Technical innovations 25 1/11/21 Ne Technical innovations 26 5410 1/14/21 Chris Alpha 27 5410 1/14/21 Chris Alpha 20 5410 1/14/21 Chais Alpha 29 5410 1/14/21 Alpha 10 5410 1/34/21 Chris Alpha 31 5411 1/12 American Product 5413 1/28/21 Nox Technical Innow 33 5413 1/28/21 A Technical 5411 1/21/1 Ale Technical Innown 35 5414 1/02 Che Naha 10 5434 1/30/21 Chee Nipha 17 5414 1/39721 Chris Alpha 1/1072 Chile Alpha 19 5414 1/10/21 Chas Alpha 10 5415 1/11/21 Ches Lime Stock 41 1/3121 Chris med Stoch 42 2/6/21 Chne pha 5410 2/621 Cha 5410 Alpha 2/6/21 Chris Noha 2/61 Chute Noha 46 5416 2/21 Aphe 47 5417 548 41 American Products Pleas Whe 5418 7/10 SRL 1410 1470 Alpha 5410 54 Alpha 5410 1420 12 Out 1 chute Alpine 5410 Th4 1 1 Alph S8 3423 WA w 5423 WICA MU 62 VINO 68 5414 SUV Quand 825603 1.750.00 100525 500.00 101652 1,000.00 108900 5,000.00 110552 1,500.00 111568 2.000.00 118741 2,000.00 119561 100.00 825600 5,000.00 825505 5,000.00 555874 15,000.00 555902 15,000.00 555916 15.000.00 202456 35,000.00 100525 50000 101652 200 00 1080 100.00 119561 100.00 325608 5.000.00 555874 20,000 00 555902 20,000.00 555916 17,500.00 $25600 5,000.00 825605 500000 101652 200.00 108900 1,000.00 11082 200.00 111560 500.00 116741 7.00000 20245625,000.00 225500 5.000 50 82560525,000.00 325608 16,000.00 100525 500.00 101653 1,000.00 199900 1.000.00 11154 119543 1.000.00 100575 2,000.00 110252 100525 4,000.00 5000 101652 500.00 109900 200 00 118741 200000 119561 200.00 707456 3.000.00 $8583420,000.00 3599220.000.00 355910 37.500.00 100535 500 DO 10142 102100 500.00 1102 100.00 1115 500 00 1.000.00 1.000 5.000.00 1,000 10000 101632 1 000 101 100.00 2014.09.00 5000 5815 5415 5415 2/157 PR 3/18/ 2724/11 1/14/21 3/14 50 470 11874 Product Standards Ready Purchasing Information 10125 G Reorived Ver SKU Purchase order Total Price 1000587 12/1/20 Technical innovation 8208 5399 $ 3.132.50 Yes 10056 12/1/20 Alpha 100525 S4005 5450 Yes 12/9/20 Alpha 101652 5400 1.500.00 Yes 10050 12/9/20 Alpha 108900 5400 3,350.00 Yes 10056 12/9/20 Alpha 110852 5400 5 1,725.00 Yes 10070 12/28/20 Alpha 111568 5400.5 2.980.00 Yes 10056 12/10/20 Alpha 118741 5400 S 3,500.00 Yes 10056 12/9/20 Alpha 119561 5400 5 180.00 Yes 100059 12/14/20 Technical Innovation 825600 54015 15,000.00 Yes 1000538 12/14/20 Technical Innovations 825605 54015 15,000.00 Yes 84 12/17/20 Giant Wholesale 555874 5401S 1,162.50 Yes 12/17/20 Giant Wholesale 5000 $ 675. DO Yes 381 12/17/20 Giant Wholesale S55916 5403 603 1.200 00 Yes 12/20/20 American Products 202456 54045 376,250.00 Yes 10078 1/3/21 Alpha 100525 5405 645.00 Yes 10078 11/21 Alpha 101652 54055 300.00 Yes 10028 1/3/21 Alpha 108900 5405 175.00 Yes 3 10078 1/21 Alpha 119561 5405 D 1000613 180.00 Yes 177/21 Technical Innovations 3256GB 54065 950.00 Yes 11 45 1/7/21 Gant Wholesale 555874 5408S 900.00 Yes ini Gant Wholesale 55503 5408S 1.560.00 Yes 40 1/ Giant Wholesale 555916 5408 2,96 25 Yes 24 100000 1/16/21 Technical Innovations 825600 SONS 15,000.00 Yes 25 1000000 1/1/21 Technical Innovations 825005 54095 15,000.00 Yes 26 1/11/21 Alpha 101652 54105 100.00 Yes 22 10125 1/11 Alpha BORSO 54105 1,750.00 Yes 28 10125 1/11/21 Alpha 110852 54195 290.00 Yes 10140 2/4/21 Alpha 111568 54105 715.00 Yes 30 10125 1/11/21 Alpha 118741 5410 5 160000 Yes 11 600 1/20/21 American Products 200456 5415 37600 Yes 1001111 1/31/21 Technication 2500 54135 15.650.00 Yes 23 1001111 1/31/21 Telovations 823605 5413 S 15.650.00 Yes 34 1001111 1/31/21 Technical Innovation 95600 5413 5 35 25.440.00 Yes 10140 214/21 Alpha 1005 5414 S 645.00 Yes 10140 214/21 Alpha 30162 5414 LEO Yes 37 10140 2/4/3 Alpha 10000 54145 1,750.00 Yes 20140 2/42 Alphe 111500 54145 10140 2/4/21 Alpha 119561 1.800.00 409000454 2/20/21 Limited Stock IS 2.000.00 4100006 2/20/21 United Mock ses $ 4.000.00 Ves 42 10161 2021 Alpha 2002 54165 4500 Y 30183 3/10/21 Alphe 3042 > Yes 1011 2/10 A 10000 350.00 Tes mer 45 1011 2/10/21 AN 118MI Yes 101: 2/10/21 Apr 129561 0.00 Te 611 2/20/21 American Products 202456 370.00 4 2/2121 Giant Wholesale 55584 54135 900.00 49 2/21/21 Cine Wholesale 5550 Yes 50 451 2/23/21 Gar Wolle 54185 2.0025 51 1200 22 5430 52 30200 7/21/21 Alpha 1010 Yes 1000 2/2011 Alpina 5430 Yes 54 10700 9/2/A 14500 Yes WA 111 5430 es 100 1/2/31 13841 5430 w 10000 Alph 19 30 5420 58100125 431 Textil 54215 wa ISO 4 Tedinovation 10125 4215 100 2 Aidha 1003 DO NO 10100 M14/21 1423 LO 1010 WA SOS 400.00 MARY SOS 2. 75.00 Yes 25.00 Sess Sess 5435 SAS 5420 445.00 HO Seos 7 1. 10 Product Standards Inventory Information Purchasing Information Accounts Payabl Ready Dynamic Industrial is a relatively young company, with an unsophisticated accounting system. Dynamic Industrial manufactures two products, X370A, and Z410B. Each of the products has multiple components and materials (identified by SKU number), but assembly is relatively quick leaving no work in process inventory at the end of the period. Invoices are only logged and approved for payment if the full quantity of the SKU has been received. 1) Using the information provided, calculate the Materials Price and Materials Quantity variance for each component/material for 2021. The beginning and ending inventory accounts for each product (units of output) are provided below: Beginning Inventory Count Ending Inventory Count Units Sold X370A 5,040 4,040 18,220 Z410B 3,130 2,005 17,000 The company uses FIFO to value all inventory ISKU G Standard Material per Unit of Product Product X370A X370A X370A X370A X370A X370A X370A X370A X370A 24103 24100 Z410B 24100 524100 6 7 C Primary Vendor 100525 Alpha 101652 Alpha 108900 Alpha 202456 American Products 555874 Giant Wholesale 555902 Giant Wholesale 825600 Technical innovations 825605 Technical Innovations 825608 Technical Innovations 110852 Alpha 111568 Npha 118741 Alpha 119561 Alpha 555916 Giant Wholesale D Standard Cost Standard Material Unit S 1.25 $ 1.50 $ 1.75 ft $ 10.75 N/A $ 0.05 S 0.08 $ 3.00 N/A $ 3.00 N/A $ 150 N/A $ 1.10 $ 1.40 $ 1.79 $ 1.79 $ 0.08 Terms 0.2 Net 30 0.2 Net 10 0.5 Net 30 6 Net 60 2 Net 10 2 Net 30 1 Net 30 1 Net 30 1 Net 10 0.2 Net 30 0.2 Net 10 0.4 Net 3 01 Net 30 4 Net 30 20 21 22 23 24 25 26 27 28 29 30 31 32 33 36 38 39 40 42 43 44 Inventory Information Purchasing Information Product Standards Accounts Payable Sammy Ready E F SKU Primary Vendor 100525 Alpha 101652 Alpha 108900 Alpha 110852 Alpha 111568 Alpha 118741 Alpha 119561 Alpha 202456 American Products 555874 Giant Wholesale 555902 Giant Wholesale 555916 Giant Wholesale 825600 Technical Innovations 825605 Technical Innovations 825608 Technical Innovations Standard Material Unit ft ft ft ft ft ft ft N/A ft ft ft N/A N/A N/A D Beginning Inventory 395.00 855.00 4,985.00 1,235.00 1,340.00 1,980.00 80.00 3,972.00 10,101.00 12,760.00 12,520.00 2,976.00 2,932.00 951.00 Ending Inventory 405.00 1,005.00 4,305.00 1,335.00 1,145.00 2,045.00 685.00 5,571.00 14,905.00 27,090.00 30,980.00 609.00 694.00 4,173.00 Product Standards Inventory Information eady Purchasing Information Accounts J36 3 K L M 5409 D 1 Purchase ordPO Date Pustha Vendor 5199 12/4/10 A Technical Innovations 5400 12/5/20 Chris Alpha 5400 12/5/20 Chris Alpha 5400 12/5/20 CM Alpha 6 5400 12/5/20 ch Alpha 7 5400 12/5/20 Chns Alpha 5400 17/5/20 Chris Alpha 5400 12/5/20 hs Alpha 10 5401 12/9/20 Ne Technical Innovations 11 5401 12/9/20 Alex Technical Innovation 5403 12/12/20 PM Gat Wholesale 13 5403 12/12/20 Pa Gut Wholesale 14 5603 12/12/20 PM Gant Wholesale 15 5404 12/12/20 Pa American Products 5405 12/28/20 Chn's Alpha 17 5405 12/28/20 Chris Alpha 11 5405 12/28/20 Chit Alpha 15 5405 12/28/20 Chris Alpha 20 5406 1/1/21 Ne Technical Innovations 21 5408 1/5/21 PM Gant Wholesale 22 5408 1/5/21 Put Gant Wholesale 21 5408 1/5/21 PM Gw Wholesale 24 549 11/21 A Technical innovations 25 1/11/21 Ne Technical innovations 26 5410 1/14/21 Chris Alpha 27 5410 1/14/21 Chris Alpha 20 5410 1/14/21 Chais Alpha 29 5410 1/14/21 Alpha 10 5410 1/34/21 Chris Alpha 31 5411 1/12 American Product 5413 1/28/21 Nox Technical Innow 33 5413 1/28/21 A Technical 5411 1/21/1 Ale Technical Innown 35 5414 1/02 Che Naha 10 5434 1/30/21 Chee Nipha 17 5414 1/39721 Chris Alpha 1/1072 Chile Alpha 19 5414 1/10/21 Chas Alpha 10 5415 1/11/21 Ches Lime Stock 41 1/3121 Chris med Stoch 42 2/6/21 Chne pha 5410 2/621 Cha 5410 Alpha 2/6/21 Chris Noha 2/61 Chute Noha 46 5416 2/21 Aphe 47 5417 548 41 American Products Pleas Whe 5418 7/10 SRL 1410 1470 Alpha 5410 54 Alpha 5410 1420 12 Out 1 chute Alpine 5410 Th4 1 1 Alph S8 3423 WA w 5423 WICA MU 62 VINO 68 5414 SUV Quand 825603 1.750.00 100525 500.00 101652 1,000.00 108900 5,000.00 110552 1,500.00 111568 2.000.00 118741 2,000.00 119561 100.00 825600 5,000.00 825505 5,000.00 555874 15,000.00 555902 15,000.00 555916 15.000.00 202456 35,000.00 100525 50000 101652 200 00 1080 100.00 119561 100.00 325608 5.000.00 555874 20,000 00 555902 20,000.00 555916 17,500.00 $25600 5,000.00 825605 500000 101652 200.00 108900 1,000.00 11082 200.00 111560 500.00 116741 7.00000 20245625,000.00 225500 5.000 50 82560525,000.00 325608 16,000.00 100525 500.00 101653 1,000.00 199900 1.000.00 11154 119543 1.000.00 100575 2,000.00 110252 100525 4,000.00 5000 101652 500.00 109900 200 00 118741 200000 119561 200.00 707456 3.000.00 $8583420,000.00 3599220.000.00 355910 37.500.00 100535 500 DO 10142 102100 500.00 1102 100.00 1115 500 00 1.000.00 1.000 5.000.00 1,000 10000 101632 1 000 101 100.00 2014.09.00 5000 5815 5415 5415 2/157 PR 3/18/ 2724/11 1/14/21 3/14 50 470 11874 Product Standards Ready Purchasing Information 10125 G Reorived Ver SKU Purchase order Total Price 1000587 12/1/20 Technical innovation 8208 5399 $ 3.132.50 Yes 10056 12/1/20 Alpha 100525 S4005 5450 Yes 12/9/20 Alpha 101652 5400 1.500.00 Yes 10050 12/9/20 Alpha 108900 5400 3,350.00 Yes 10056 12/9/20 Alpha 110852 5400 5 1,725.00 Yes 10070 12/28/20 Alpha 111568 5400.5 2.980.00 Yes 10056 12/10/20 Alpha 118741 5400 S 3,500.00 Yes 10056 12/9/20 Alpha 119561 5400 5 180.00 Yes 100059 12/14/20 Technical Innovation 825600 54015 15,000.00 Yes 1000538 12/14/20 Technical Innovations 825605 54015 15,000.00 Yes 84 12/17/20 Giant Wholesale 555874 5401S 1,162.50 Yes 12/17/20 Giant Wholesale 5000 $ 675. DO Yes 381 12/17/20 Giant Wholesale S55916 5403 603 1.200 00 Yes 12/20/20 American Products 202456 54045 376,250.00 Yes 10078 1/3/21 Alpha 100525 5405 645.00 Yes 10078 11/21 Alpha 101652 54055 300.00 Yes 10028 1/3/21 Alpha 108900 5405 175.00 Yes 3 10078 1/21 Alpha 119561 5405 D 1000613 180.00 Yes 177/21 Technical Innovations 3256GB 54065 950.00 Yes 11 45 1/7/21 Gant Wholesale 555874 5408S 900.00 Yes ini Gant Wholesale 55503 5408S 1.560.00 Yes 40 1/ Giant Wholesale 555916 5408 2,96 25 Yes 24 100000 1/16/21 Technical Innovations 825600 SONS 15,000.00 Yes 25 1000000 1/1/21 Technical Innovations 825005 54095 15,000.00 Yes 26 1/11/21 Alpha 101652 54105 100.00 Yes 22 10125 1/11 Alpha BORSO 54105 1,750.00 Yes 28 10125 1/11/21 Alpha 110852 54195 290.00 Yes 10140 2/4/21 Alpha 111568 54105 715.00 Yes 30 10125 1/11/21 Alpha 118741 5410 5 160000 Yes 11 600 1/20/21 American Products 200456 5415 37600 Yes 1001111 1/31/21 Technication 2500 54135 15.650.00 Yes 23 1001111 1/31/21 Telovations 823605 5413 S 15.650.00 Yes 34 1001111 1/31/21 Technical Innovation 95600 5413 5 35 25.440.00 Yes 10140 214/21 Alpha 1005 5414 S 645.00 Yes 10140 214/21 Alpha 30162 5414 LEO Yes 37 10140 2/4/3 Alpha 10000 54145 1,750.00 Yes 20140 2/42 Alphe 111500 54145 10140 2/4/21 Alpha 119561 1.800.00 409000454 2/20/21 Limited Stock IS 2.000.00 4100006 2/20/21 United Mock ses $ 4.000.00 Ves 42 10161 2021 Alpha 2002 54165 4500 Y 30183 3/10/21 Alphe 3042 > Yes 1011 2/10 A 10000 350.00 Tes mer 45 1011 2/10/21 AN 118MI Yes 101: 2/10/21 Apr 129561 0.00 Te 611 2/20/21 American Products 202456 370.00 4 2/2121 Giant Wholesale 55584 54135 900.00 49 2/21/21 Cine Wholesale 5550 Yes 50 451 2/23/21 Gar Wolle 54185 2.0025 51 1200 22 5430 52 30200 7/21/21 Alpha 1010 Yes 1000 2/2011 Alpina 5430 Yes 54 10700 9/2/A 14500 Yes WA 111 5430 es 100 1/2/31 13841 5430 w 10000 Alph 19 30 5420 58100125 431 Textil 54215 wa ISO 4 Tedinovation 10125 4215 100 2 Aidha 1003 DO NO 10100 M14/21 1423 LO 1010 WA SOS 400.00 MARY SOS 2. 75.00 Yes 25.00 Sess Sess 5435 SAS 5420 445.00 HO Seos 7 1. 10 Product Standards Inventory Information Purchasing Information Accounts Payabl Ready