A) Walmart, a global retail giant, uses standard costing to control its manufacturing operations. For one of its products, the standard cost per unit is $10, comprising $6 for direct materials, $2 for direct labor, and $2 for variable overhead. During the last month, the company produced 10,000 units. Calculate the total standard cost and the total actual cost incurred if the actual costs were $60,000 for direct materials, $20,000 for direct labor, and $25,000 for variable overhead. Analyze the differences between standard and actual costs, highlighting potential variances and their implications for Walmart's performance evaluation and decision-making. (20 marks)