Question 1 Ayayai 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 Costs Costs Total Variance Quantity 510 lbs. Quantity 450 lbs. $1,224 $99 U Project Remington Chang Wyco 400 880 410 $1,125 1,025 1,200 145 F 550 1,430 480 230 U Total variance $184 U Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places e.g. 1.25.) AYAYAI LANDSCAPING Variance Report - Purchasing Department For the Current Month Project Actual Pounds Purchased Actual Price Per Pound Standard Price Per Pound Price Variance Explanation Remington Purchased poor-quality seeds $ $ $ Chang Seeds on sale Wyco Price increased Total price variance V $ LINK TO TEXT LINK TO TEXT Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) AYAYAI LANDSCAPING Variance Report - Production Department For the Current Month Standard Price Per Pound Explanation Project Actual Pounds Standard Pounds Quantity Variance Remington v Purchased poor-quality seeds $ $ Chang v Purchased higher-quality seeds Wyco New employee Total quantity variance V $