Vaughn Painting Service specializes in painting tall office buildings. During a recent month, the company worked on three painting projects (the Arrow Building, the Besler Building and the Cartwright Building). The company is interested in controlling the materials costs, namely the paint, used for these painting contracts. In order to provide management with useful cost control information, the company uses standard costs and prepares monthly variance reports. Analysis reveals that the purchasing agent mistakenly purchased poor quality paint for the Arrow Building project. The Besler Building project, however, received higher-than-standard-quality paint that was on sale. The Cartwright Building project received standard quality paint. However, the price had increased and a new employee was used to paint the building. Shown below are quantity and cost data for each project. Total Actual Standard Project Quantity Costs Quantity Costs Variance Arrow Building 3,760 gallons $285,760 3,520 gallons $281,600 $4,160 U Besler Building 3,740 $291.720 3,960 $316,800 25,080 F Cartwright Building 4,510 $369,820 4,240 $339,200 30,6200 Total variance $9,700U Your answer is correct. Prepare a variance report for the purchasing department with the following columns: (1) Project, (2) Actual Gallons Purchased, (3) Actual Price (4) Standard Price, (5) Price Variance, and (6) Explanation (Round price per unit to 2 decimal places, e.g. 15.25.) VAUGHN Painting Se Variance Report - Purchasing For the month ended Actual Gallons Purchased Actual Price Standard Price Project Arrow Building Besler Building Cartwright Building Total price variance 3760 3740 4510 4510 80 Cartwright Building Total price variance eTextbook and Media Attempts: 1 of 10 used Prepare a variance report for the production department with the following columns: (1) Project. (2) Actual Gallons (3) Standard Gallons, (4) Standard Price, (5) Quantity Variance, and (6) Explanation.(Round price per unit to 2 decimal places, e.s. 15.25.) VAUGHN Painting Serv Variance Report - Production D For the month ended Standard Price Project Actual Gallons Standard Gallons Arrow Building Besler Building Cartwright Building Total quantity variance eTextbook and Media Save for Later Attempts: 0 of 10 used Submit Answer (c1) The parts of this question must be completed in order. This part will be available when you complete the part above. (c2) The parts of this question must be completed in order. This part will be available when you complete the part above Cartwright Building Total price variance eTextbook and Media Attempts: 1 of 10 used Prepare a variance report for the production department with the following columns: (1) Project, (2) Actual Gallons (3) Standard Gallons, (4) Standard Price. (5) Quantity Variance, and (6) Explanation. (Round price per unit to 2 decimal places, e.g. 15.25.) UGHN Painting Service pport - Production Department r the month ended XX Quantity Variance Explanation High Quality Paint/Needed Less Inexperienced Worker/Wasted Paint Poor Quality Paint/Needed More eTextbook and Media Save for Later Attempts:0 of 10 used Submit Answer (c1) The parts of this question must be completed in order. This part will be available when you complete the part above. (c2) The parts of this question must be completed in order. This part will be available when you complete the part above
