I need help with these exercises. Please provide a detail explanation step by step.

In all of the exercises involving variances, use "F" and "U" to designate favorable and unfavorable variances, respectively.

Case - E8-1 E8-2- use the following data:

The standard operating capacity of Tecate Manufacturing Co. is 1,000 units. A detailed study of the manufacturing data relating to the standard production cost of one product revealed the following:

1. Two pounds of materials are needed to produce one unit.

2. Standard unit cost of materials is $8 per pound.

3. It takes one hour of labor to produce one unit.

4. Standard labor rate is $10 per hour.

5. Standard overhead (all variables) for this volume is $4,000.

Case - E8-1 - E8-2 requires the following:

a. Set up a standard cost summary showing the standard unit cost.

b. Analyze the variances for materials and labor.

c. Make journal entries to record the transfer to Work in the process of: 1. 2. 3. (When making these entries, include the variances.)

d.Prepare the journal entry to record the transfer of costs to the finished goods account.

E8-1 Standard unit cost; variance analysis; journal entries

1,000 units were started and finished.

Case 1: All prices and quantities for the cost elements are standard, except for materials cost, which is $8.50 per pound.

Case 2: All prices and quantities for the cost elements are standard, except that 1,900 lb. of materials were used.

E8-2 Standard unit cost; variance analysis; journal entries

1,000 units were started and finished.

Case 1: All prices and quantities are standard except for the labor rate, which is $10.20 per hour.

Case 2: All prices and quantities are standard, except for labor hours, which totaled 900.

Thank you