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Please help me understand the steps so I can better understand this concept for the future. Thank you Bandar Industries Berhad of Malaysia manufactures sporting

image text in transcribedPlease help me understand the steps so I can better understand this concept for the future. Thank you

Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30 , the company manufactured 3,700 helmets, using 2,405 kilograms of plastic. The plastic cost the company $18,278. According to the standard cost card, each helmet should require 0.56 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,700 helmets? 2. What is the standard materials cost allowed (SQSP) to make 3,700 helmets? 3. What is the materials spending variance? (Hint: This is the difference between the total standard cost in \#2 and the total amount they spent; it is also the sum of the price and quantity variances below.) 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4 , indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)

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