Part A 15 Marks The following information is provided for Milles Fleurs' Stationery Production Division for the year 2021: Raw materials inventory, January 1 Raw materials inventory, December 31 $ 30,000 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 Finished goods, December 31 60,000 48,000 Raw materials purchases 1,500,000 Required: Direct labor Manufacturing Overheads a. Compute the Cost of Direct Materials Used during 2021 b. Prepare the Schedule of Cost of Goods Manufactured c. Compute the Cost of Goods Sold 690,000 800,000 (3 Marks) (8 Marks) (4 Marks) Part B 10 Marks The following information is provided for about a product produced in Milles Fleurs' printing department: Direct Materials: The per-unit standards are 2 pounds at $5 per pound. Last month, 11,200 pounds of direct materials that actually cost $53,200 were used to produce 6,000 units of product. Direct Labour: The per-unit standards are 0.5 direct labor hours at $15 per hour. In producing 6,000 units, the actual direct labor cost was $46,500 for 3,000 direct labor hours worked. Required: a. Compute the Materials Price Variance b. Compute the Materials Quantity Variance c. Compute the Labour Rate Variance d. Compute the Labour Quantity Variance (2 Marks) (3 Marks) (2 Marks) (3 Marks)