Question 1 Sarasota 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 Remington Chang Wyco Total variance Quantity 520 lbs. 400 Quantity 410 lbs. Costs $1,248 920 1,508 Costs $1,025 1,025 1,175 Total Variance $223 U 105 F 410 580 470 333 U $451 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.) SARASOTA LANDSCAPING Variance Report - Purchasing Department For the Current Month Standard Price Per Pound Project Actual Pounds Purchased Actual Price Per Pound Price Variance Explanation Remington Purchased poor-quality seeds $ Chang Seeds on sale Wyco Price increased Total price variance Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) SARASOTA LANDSCAPING Variance Report - Production Department For the Current Month Standard Price Per Pound Explanation Project Actual Pounds Standard Pounds Quantity Variance Remington Purchased poor quality seeds $ Chang Purchased higher-quality seeds Wyco New employee Total quantity variance Click if you would like to Show Work for this question: Open Show Work