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Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football...

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Accounting

Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending 30 June, the company manufactured 20,000 helmets, using 18,500 kilograms of plastic in the process. The plastic cost the company RM 142,450. (The currency in Malaysia is the ringgit, which is denoted here by RM.)
According to the standard cost card, each helmet should require 0.8 kilograms of plastic, at a cost of RM 8.3 per kilogram.
Required:
1. a. What cost for plastic should have been incurred in the manufacture of the 20,000 helmets?

b. How much greater or less is this than the cost that was incurred?

2. Break down the difference computed above in terms of a materials price variance and a materials quantity variance.

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