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1. Apple Company provides the following data for the next three months: Jan 685 705 Feb 780 May 735 Budgeted production units Beginning Raw Materials inventory-lbs. Ending Finished Goods Inventory - units 160 Apple had decided that Raw Materials desired ending inventory should be 40% of the nex month's production needs. Each unit of production takes four pounds of raw materials. What is the quantity (lbs.) of Raw Materials to be purchased in February? 110 120 cing 12,400 units of product last period, Fern LTD. used 53,940 pounds of Material B, costing $210,366. The company has established the standard of using 4.3 pounds of Material B per unit of product, at a price of $4.00 per pound. Calculate the price, quantity, and total materials variances and indicate if they are favorable or unfavorable. Variance amount For U Price variance solbayo Quantity variance Total materials variance saobuboni 2x3 bool suborg is ono to nolubong betimi notorstnih suoras 2001 20 no 2021 od 00.0 smit SOM 7. Goat Products has the following information about the use of labor in producing their product Little Kid. Actual costs & quantities: 293 bost Standard costs & quantities: lieb Direct labor cost incurred $1,100,000 Direct labor rate/hr $21.50 Direct labor hours used 50,000 Hours to produce 1 unit 1.3 Units produced 40,000 Calculate the rate, time, and total labor variances and indicate if they are favorable or unfavorable. Variance amount For U Rate variance Time variance Total labor variance