Use this information to complete the charts.

Complete these charts.

I'm Really Cold Coat Company makes women's and men's coats. Both products require filler and lining material. The following planning information has been made available: I'm Really Cold Coat Company does not expect there to be any beginning or ending inventories of filler and lining material. At the end of the budget year, I'm Really Cold Coat Company experienced the following actual results: The expected beginning inventory and desired ending inventory were realized. 2. Why are the standard amounts in part (1) based on the actual production at the end of the year instead of the planned production at the beginning of the year? 1. a. Direct Materiais Variance Price variance: Filler Liner Total Actual price Standard price Variance Actual quantity Direct materials price variance (favorable) unfavorable \begin{tabular}{|l|} \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|} \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} Quantity variance: Actual quantity used (lbs.) Standard quantity used (lbs.) Variance (bs.) Standard price Direct materials quantity variance - (favorable) unfavorable Total direct materials cost variance - (favorable) unfavorable \begin{tabular}{|l|} \hline \\ \hline \\ \\ \hline \end{tabular} \begin{tabular}{|l|} \hline \\ \hline \\ \hline \\ \hline \end{tabular} Total direct materials cost variance: Actual cost Standard cost Total direct materials cost variance- (favorable) unfavorable \begin{tabular}{r} \\ \hline+2 \\ \hline \end{tabular} Total direct materials cost variance: Actual cost Standard cost Total direct materials cost variance (favorable) unfavorable \begin{tabular}{|} \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|} \hline \\ \hline \\ \hline \end{tabular} Supporting calculations: Standard quantity used of filler: Coats produced Standard amount per coat (lbs.) Total Womens Men's Total Standard quantity used of liner: Coats produced Standard amount per coat (yds.) Total \begin{tabular}{|l|} \hline Womens \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Men's \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} Direct Labor Variance Rate variance: Actual rate Standard rate Variance Actual time Direct labor rate variance _(favorable) unfavorable Time variance Actual time Standard time Variance Standard rate Direct labor time variance (favorable) unfavorable Total direct labor cost variance - (favorable) unfavorable Total direct labor cost variance: Actual cost Standard cost Total direct labor cost variance - (favorable) unfavorable