Waterway Landscaping plants grass seed as the basic landscaping for business campuses. During a recent month, the company worked on three projects (Remington, Chang, and Wyco). The company is interested in controlling the materials costs, namely the grass seed, for these plantings projects. 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 seed for the Remington project. The Chang project, however, received higher-than-standard-quality seed that was on sale. The Wyco project received standard-quality seed. However, the price had increased and a new employee was used to spread the seed. Shown below are quantity and cost data for each project. Actual Standard Project Quantity Costs Quantity Costs Total Variance Remington 510 lbs. $1,224 440 lbs. $1,100 $124 U Chang 400 880 410 1,025 145 F Wyco 570 1,482 480 1.200 282 U Total variance $261 U (a) Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal Prepare a variance report for the purchasing department (Round actual and standard price per pound answers to 2 decimal places e.g. 1.25.) WATERWAY LANDSCAPING Variance Report-Purchasing Depart For the Current Month Actual Project Pounds Purchased Actual Price Per Pound Remington Chang Wyco Total price variance $ Standard Price Per Pound $ Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places e.g. 1.25.) WATERWAY LANDSCAPING nce Report-Purchasing Department For the Current Month Standard Price Per Pound (b) $ Price Variance Explanation. Question 7 of 7 (b) -/4 !!! Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, eg. 1.25.) WATERWAY LANDSCAPING Variance Report - Production Depart For the Current Month Standard Price Per Pound Project Actual Pounds Standard Pounds Remington I Chang Wyco Total quantity variance $ $ (b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) WATERWAY LANDSCAPING nce Report-Production Department For the Current Month Standard Price Per Pound $ $ eTextbook and Media: Quantity Variance Explanation