Please answer question 10 with the given information.

(this data is the answers to question 8 and 9)

8) (16 points total) The company wants to update their standards used in budgeting and accounting process to reflect certain changes they are expecting. a) (4 points) Material price: Management is working with their materials supplier to negotiate a new price/cost of their direct material. Perry Company is looking for a price that would "half" the price variance they saw in May. What price per foot will management want to negotiate? Hint - Use MPV-(SP-AP)AQ: Set material price variance to 50% of May's variance (either in $s or per unit) and solve for Actual Price. This will be the new material price standard for June. Show your work here and include your answers in the table below including the highlighted square Remember to express your answer in terms of "per foot" price b) (4 points) The production supervisor is implementing some changes to production that are expected to improve the materials quantity variance. With these changes, the supervisor believes May's favorable quantity variance would have been doubled. Using MQV (SQ-AQ)SP; Solve for Actual Quantity that would have doubled May's materials quantity variance. Remember to express your answers in terms of"per unit This will be the new quantity standard for June. Include this in the table below for the highlighted c) (2 points) The company has been providing additional training for their employees and various changes to the production process such that they expect labor efficiency to improve. The company believes June's production can meet the current labor standard (unchanged from Mays hour per unit). What will the standard hour per unit be for June? Include in the highlighted square below d) (2 points) The company has increased the wages of its employees by 5% to attempt to provide an incentive and improve moral of the employees. This 5% increase is to the Actual" labor rate paid in May. This will be the new standard labor rate for June. Calculate the new standard per hour and include it in the square below 4