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numbers are different than other questions posted

Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing systern and has set the following standards for materiais and labor: During the fiest month of the year, the Boise plant produced 92,000 beits. Actual leacher purchased was 281,500 strips at $3.00 per strip. There were no beginning or ending inventories of leather. Actual direct iobor was 79,600 hours at $15.00 per heur. Requiredt 1. Break down the total varince for maberials into a price variance and a usage variance using the columnar and formulo approbches, Enter favorable values as negative numbers and unfovorable values as positive numbers. 2. CONCEpTUAL CONNECTION Suppose the Bolse plant manager investigates the materiais variances and is told by the purchasing manager that a cheaper sourse of leather strips had been discovered and that this is the resson for the fovorable materials price variance, Quite pleased, the purchas ng manager suggeits that the materials price standard be updated to reflect this new, less expensive source of leather strips, Should the plant manager update the materials price standard as suggested? Why or why not? 1. No, The suggestion of the purchasing manager is premature, A favorable materials price can produce an effect on both mateilals usage and labce variances. 1. Ves, the nuiechasine mananar ls eocrect. This will imnemye the ouerall nrafitahatecot the momname