Your answer is partially correct. Try again. Picard 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. Project Remington Chang Wyco Total variance Actual Standard Quantity Costs Quantity Costs 530 lbs. $1,272 440 lbs. $1,100 880410 1,025 550 1,430 440 1,100 400 Total Variance $172 U 145 F 330 U $357 U (a) Prepare a variance report for the purchasing department. (Round actual and standard price per pound answers to 2 decimal places e.g. 1.25.) PICARD LANDSCAPING Variance Report - Purchasing Department For the Current Month Actual Pounds Purchased Actual Price Per Pound Standard Price Per Pound Price Variance Project Remington 530 1,272 1,100 1 || Favorable Chang 1,025 Il Favorable Wyco 550 1,430 1,100 Il Unfavorable Total price variance Favorable (b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) PICARD LANDSCAPING Variance Report - Production Department For the Current Month Standard Pounds Actual Pounds Standard Price Per Pound Quantity Variance Project Remington 530 440 1,100 Unfavorable Chang 400 T 410 1,025 Favorable Wyco - 550 550 440 1,100 110 Unfavorable Total quantity variance Unfavorable