Calculate the standard cost, and the material and labor variances for Russell Uszak Company.RU Co. made 2,050 DVD players during March. The company uses 2 ounces of plastic per DVD player. The plastic is budgeted to cost $3 per ounce. They bought and used 4,400 ounces of plastic to make the March production. The 4,400 ounces cost them $12,320. Uszak pays workers according to different pay scales. Some get $10 per hour, some $12,some $20. They budget an average cost of $14 per hour in making DVD players, their main product. They figure they can make 2 DVD players per hour on average. (Hey, don’t let that 2 per hour throw you. You have the labor rate per hour above, now you need total budgeted hours to make 2,050 players, then you have what you need on the labor side) –In March Uszak made 2,050 DVD players. They actually took 1,100 hours and at a cost of$15,070 in labor for the 2,050 players.

1. What is the standard (expected) cost of making the 2,050 DVD players?

2. Please calculate and clearly show the material and labor variances.(2 variances for each; = 4 variances in total)