Use the following to answer question 31-40: Strauss Corporation 28 points) STRAUSS Corporation projects the following unit sales of fidgets for the upcoming 4-month period: July August September October 50,000 fidgets 65,000 fidgets 45,000 fidgets 80,000 fidgets 31. The company had 4,500 fidgets on hand at the beginning of September and wishes to have 10% of the next month's sales on hand as safety stock. TRUE OR FALSE: The budgeted production for September is 53,000 fidgets NOW ASSUME that they expect to produce 50,000 fidgets for the month of September. The following standards have been established for the production of one fidget: Materials: 2 lbs. @ $10 per lb. Labor: 5 hrs. @ $8 per hr. 32. TRUE OR FALSE: The master budget used for planning, will show direct materials of $1,000,000 for September. 33. TRUE OR FALSE: The master budget, used for planning, will show direct labor of $180,000 for September. NOW ASSUME that during the month of September, they actually produced 45,000 fidgets as follows: Materials: Purchased and used 100,000 lbs. @ avg. cost of $11 per lb. Labor: Used 24,000 hours at a total cost of $ 168,000 34. The direct materials flexible budget amount, used in performance evaluation will show: 35. In words, this specifically means: (use the $ amount in your answer) 36. The direct-materials flexible budget variance is: Strauss Corporation uses variance analysis to assess and evaluate operations. During the month, various events occurred that affected operations. For each of the situations described, indicate the name and amount of the variance which most likely reflects the financial impact of the situation described. Do NOT indicate a specific variance more than once. 37. The product uses a raw material that is in limited supply, and the worldwide demand tumed out to be even greater than the company and economists had predicted. (4 pts) Variance name Amount and direction 38. A new machinery maintenance program was put into effect at the start of the period which called for longer times in between routine inspections. This resulted in more raw materials being used in production and an increase in scrap costs. (4 pts) Variance name Amount and direction 39. During the period, in an effort to save money on costly training, the company utilized a more aggressive "on the job" training regiment, which resulted in workers taking longer than expected to complete routine production tasks. (4 pts) Variance name Amount and direction 40. As noted above, the company had originally planned to produce 50,000 fidgets during the period but actually only 45,000 were produced. Consider the variances described in questions three questions immediately above. Which of these is most likely to affected or caused by the fact that they produced fewer units than originally planned or expected? Briefly explain why or why not. (4 pts)