Assignment is to fill in the blanks and solve short questions

-pcouiges)AB-219-OL01-18SPTD/A Exercise 8-2B Classifying variances as favorable or unfavorable (LO 8-2) Reguired been done as an example. each of the following variances is favorable (F) or unfavorable (U). The first one has Type of Variance item to Classify Standard Actual Sale volume Sales price Materials cost Materials usage Labor cost Labor usage Fixed cost spending Fixed cost per unit (volume) 40,000 units 38,918 units per 78 per unit $2.10 per pound $2.30 per pound 102,400 pounds 103,700 pounds $8.25 per hour 56,980 hours $249,000 $2.51 per unit $8.80 per hour 55,790 hours $244,000 $3.22 per unit Exercise 8-3B Recognizing favorable vs. unfavorable variances (LO 8-2) Compute vanances for the following tems and indicate whether each vanance is favorable (F) or unfavorable (U) BudgetActual Variance For U Item Sales price Sales revenue Cost of goods sold Material purchases at 10,000 pounds Materials usage Production volume Wages at 7,600 hours Labor usage Research and development expense Selling and administrative expenses $590 $690,000$720,000 $$20,000 $470.000 $330,000$360.000 $270,000 $260,000 $600 890 units 900 units $91.200 $90,800 8,000 $81,000 $90,000 $75.000$71,000 7.600