1. Cardinal Company has determined the following standard cost data necessary to manufacture one unit of its primary product: Direct Materials.. (6 pounds @ $20) Direct Labor. .(8 hours @ $15) During 20X1, Cardinal produced only 1 unit of product. This unit required 7 pounds of direct material (a total of 8 pounds were purchased at a cost of $18 per pound). In addition, total payroll costs for direct labor during 20X1 were $130 (10 hours @ $13 per hour). Required: Answer the following questions, indicating BOTH the dollar amount of each variance and whether each variance is FAVORABLE (F) or UNFAVORABLE (U). The materials price variance was $Answer Answer The materials efficiency (usage) variance was $Answer Answer The labor rate (price) variance was $Answer Answer The labor efficiency (usage) variance was $Answer Answer The total cost of the unit completed in 20X1 and transferred from Work in Process to Finished Goods was $Answer Please answer all parts of the question. 2. Texan Airlines flies passengers between College Station and Houston. It prices its tickets at two levels: First class and Coach. The following data provide forecasted and actual operating data for its flights: Forecasted revenue at forecasted level of activity $750 Forecasted variable costs at forecasted level of activity 675 Forecasted revenue at actual level of activity 900 Forecasted variable costs at actual level of activity 630 Actual revenue 850 Actual variable costs 600 Required: Answer the following questions, indicating BOTH the dollar amount of each variance and whether each variance is FAVORABLE (F) or UNFAVORABLE (U). The sales volume variance $Answer Answer The sales mix variance $Answer Answer The sales price variance $Answer Answer The variable expense variance $Answer Answer Please answer all parts of the question.