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Please help me solve it 3.) Trieste Toy Company manufactures only one product, Robot Ranger. The company uses a standard cost system and has established

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3.) Trieste Toy Company manufactures only one product, Robot Ranger. The company uses a standard cost system and has established the following standards per unit of Robot Ranger: STANDARD QUANTITY STANDARD PRICE Direct materials 3.0 pounds $12 per pound Direct labor 1.2 hours $15 per hour During November, the company recorded the following activity: The company produced 6,000 units. A total of 21,000 pounds of material were used, purchased at a cost of a cost of $241,500. The company employs 40 persons to work on the production of Robot Ranger. These employees worked an average of 160 hours at an average rate of $16 per hour. Required: a. For direct materials used in the production of Robot Ranger, compute: The direct material price variance The direct material quantity variance b. The direct materials were purchased from a new supplier who is eager to enter into a long-term purchase contract. Would you recommend that Trieste sign the contract? Explain in detail. c. For direct labor employed in the production of Robot Ranger, compute: The direct labor rate variance The direct labor efficiency variance d. In the past, the 40 persons employed in the production of Robot Ranger consisted of 16 experienced workers and 24 inexperienced assistants. During November, the company experimented with 20 experienced workers and 20 inexperienced assistants. Would you recommend that Trieste continue the new labor mix? Explain in detail

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