Refer to the information for Rhino Car Wax in the previous exercise. Rather than using actual costs, assume that Rhino uses standard process costing to value its inventories. Rhino values each equivalent unit of materials at $10 and each equivalent unit of conversion costs at $25.

Required:
a. Prepare Rhino’s standard process-costing report for March. What is the cost of the cases of car wax finished during March and the cost of the cases still in process on March 31?
b. Compute Rhino’s materials variance and conversion cost variance for March.