Please answer Questions 1, Question 2, Question 3, Question 4, and Question 5. I have each Question in bold so you will be easily able to tell each question. When you answer the 5 questions please show detailed steps along with caluclations so I can see how you came up with the answer. Again, please answer ALL 5 QUESTIONS, showing CALCULATIONS and detailed STEPS, as well as the ANSWERS.

Question 1: Use the following for the next five questions:

The following data is given for the Walker Company:

Budgeted production...............................................1,000 units Actual production........................................................980 units

Materials:

Standard price per lb..................................................... ..$2.00 Standard pounds per completed unit....................................12 Actual pounds purchased and used in production.............11,800 Actual price paid for materials........................................$23,000

Labor:

Standard hourly labor rate....................................$14 per hour Standard hours allowed per completed unit........................4.5 Actual labor hours worked................................................4,560 Actual total labor costs..................................................$62,928

The direct material price variance is:

A) $600 F

B) $600 U

C) $80 F

D) $80 U

Question 2: Use the following for the next five questions:

The following data is given for the Walker Company:

Budgeted production...............................................1,000 units Actual production........................................................980 units

Materials:

Standard price per lb.......................................................$2.00 Standard pounds per completed unit....................................12 Actual pounds purchased and used in production.........11,800 Actual price paid for materials......................................$23,000

Labor:

Standard hourly labor rate....................................$14 per hour Standard hours allowed per completed unit.........................4.5 Actual labor hours worked................................................4,560 Actual total labor costs..................................................$62,928

The direct material quantity variance is:

A) $600 F

B) $600 U

C) $80 F

D) $80 U

Question 3: Use the following for the next five questions:

The following data is given for the Walker Company:

Budgeted production...............................................1,000 units Actual production........................................................980 units

Materials:

Standard price per lb.......................................................$2.00 Standard pounds per completed unit....................................12 Actual pounds purchased and used in production.........11,800 Actual price paid for materials......................................$23,000

Labor:

Standard hourly labor rate....................................$14 per hour Standard hours allowed per completed unit.........................4.5 Actual labor hours worked................................................4,560 Actual total labor costs..................................................$62,928

The direct labor rate variance is:

A) $912 U

B) $912 F

C) $2,100 U

D) $2,100 F

Question 4: Use the following for the next five questions:

The following data is given for the Walker Company:

Budgeted production...............................................1,000 units Actual production........................................................980 units

Materials:

Standard price per lb.......................................................$2.00 Standard pounds per completed unit....................................12 Actual pounds purchased and used in production.........11,800 Actual price paid for materials......................................$23,000

Labor:

Standard hourly labor rate....................................$14 per hour Standard hours allowed per completed unit.........................4.5 Actual labor hours worked................................................4,560 Actual total labor costs..................................................$62,928

The direct labor effeciency variance is:

A) $912 F

B) $912 U

C) $2,100 U

D) $2,100 F

Question 5: Use the following for the next five questions:

The following data is given for the Walker Company:

Budgeted production...............................................1,000 units Actual production........................................................980 units

Materials:

Standard price per lb.......................................................$2.00 Standard pounds per completed unit....................................12 Actual pounds purchased and used in production.........11,800 Actual price paid for materials......................................$23,000

Labor:

Standard hourly labor rate....................................$14 per hour Standard hours allowed per completed unit.........................4.5 Actual labor hours worked................................................4,560 Actual total labor costs..................................................$62,928

The total direct labor variance is:

$1,188 F

$3,012 U

$1,188 U

Cannot total