Question 2 (2 points) Saved The financial budgets include the cash budget and the selling and administrative expense budget. Ocash budget and the budgeted balance sheet. O budgeted balance sheet and the budgeted income statement. Ocash budget and the production budget. Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is.3 pounds and .1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $.10 per pound, and receiving and handling costs are $.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is .2 hours and .1 hours, respectively. The standard direct labor rate per hour is $ 12.00. $ 12.30. $15.60. O $15.90 Question 22 (2 points) Saved Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Edgar, Inc.'s materials price variance is $120 u. $1,200 u. O$1,080 U. $1,200 F