In order to provide management with useful cost control information, the company uses standard costs and prepares monthly variance reports. Analysis reveals that the purchasing agent mistakenly purchased poor-quality seed for the Remington project. The Chang project, however, received higher-than-standard-quality seed that was on sale. The Wyco project received standard-quality seed. However, the price had increased and a new employee was used to spread the seed. Shown below are quantity and cost data for each project. Project Remington Chang Wyco Total variance Actual Standard Quantity Costs Quantity Costs Total Variance 510 lbs. $1,224 440 lbs. $1,100 $124 U 400 880 410 1,025 145 F 570 1,482 480 1,200 282 U $261 U (a) Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places e.g. 1.25.) PICARD LANDSCAPING Variance Report - Purchasing Department For the Current Month Actual Pounds Purchased Actual Price Per Pound Standard Price Per Pound Price Variance Project Remington Chang Wyco Total price variance (b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) PICARD LANDSCAPING Variance Report - Production Department For the Current Month Standard Pounds Actual Pounds Standard Price Per Pound Quantity Variance Project Remington Chang Wyco Total quantity variance