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The Foundational $15($Algo$)[$LO$10-1,$ LO$10-2,$ LO$10-3]$

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Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor$-$hours and its standard cost card per unit is as follows:

$\backslash$table$[[$Direct materials: $5$ pounds at $$10$ per pound, $$50$

What raw materials cost would be included in the company's planning budget for March?

What raw materials cost would be included in the company's flexible budget for March?

What is the materials price variance for March?

What is the materials quanity variance for March?

If Preble had purchased $172,000$ pounds of materials at $$7\mathrm{.}50$ per pound and used $164,000$ pounds in production, what would be the materials price variance for March?