Winter Industries Inc. (WII) developed standard costs for direct material and direct labour. In 2022, WII estimated the following standard costs for one of their major products, slip-n-slide ski wax. This special ski wax is made from African bee wax and is sold in a tube. This product is the preferred ski wax for snow boarders and skiers on the west coast of Canada.

	Budgeted quantity	Budgeted price
Direct materials (bees wax)	0.11 kilograms	$80 per kilogram
Direct labour	0.20 hours	$30.00 per hour

During Jan 2022, WII bought 12,000 kg of African bee wax at an average actual cost per kilogram of $84 and produced and sold 100,000 slip-n-slide tubes at a retail price of $24 per tube using 11,200 kilograms of direct materials and used 19,300 direct manufacturing labour hours at an average actual wage of $28.50 per hour.

REQUIRED:

Choose to solve this question using either the Template Chart method (Method 1) in the provided Excel spreadsheet and answer the multichoice questions. Attach the final spreadsheet to the exam (you only need to attach the final spreadsheet to one of the questions in the exam that allows you to attach a file - such as this question).

OR... choose the Formula Method (Method 2) and show your calculations in the space provided below and then answer the multichoice questions. If you are using the Formula Method, make sure to identify the multi-choice question number when displaying the work. If there is no calculation for a question, explain why.