Preble Company manufactured one product. Its variable manufacturing overhead is applied to production based on direct labor hours and its standard cost card per unit as follows:

Direct material: 4 pounds at $10.00 per pound $40

Direct labor: 2 hours at $13 per hour $26.00

Variable overhead: 2 hours at $9 per hour $18.00

Total standard variable cost per unit $84.00

The company also established the following formulas for its selling expenses:

Advertising - $240,000 (fixed cost per month)

Sales salaries and commissions - $180,000 (fixed cost per month) $16.00 (variable cost per unit sold)

Shipping expenses - $7.00 (variable cost per unit sold)

The planning budget for March was based on producing and selling 29,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs:

a. Purchased 160,000 pounds of raw material at a cost of $8.50 per pound. all of this material was used in production.

b. Direct-laborers worked 59,000 hours a rate of $14.00 per hour

c. Total variable manufacturing overhead for the month was $564,040

d. Total advertising, sales salaries and commissions, and shipping expenses were $245,000, $475,000, and $155,000. respectively.

Question 1: What raw material cost would be included in the company's flexible budget for March?

Question 2: What is the materials quantity variance for March?

Question 3: What is the materials price variance for March?

Question 4: If Preble had purchased 174,000 pounds of materials at $8.50 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March?

Question 5: If Preble had purchased 174,000 pounds of material at $8.50 per pound and used 160,000 pounds in production, what would be the material price variance for March?