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1.Blues Company reported the following monthly data.Units produced 2,000Sales price $25 per unitDirect materials $1 per unitDirect labor $2 per unitVariable overhead $3 per unitFixed overhead $8,000 totalWhat is Blues Company's contribution margin for this month if 980 units were sold?

2.Define standards as used in the budgeting process and give a detailed example as part of your explanation.

3.For each item shown below, indicate whether it is a product cost or a period cost,andfor each item that is a product cost, also indicate whether it is a direct cost or an indirect cost with respect to a unit of finished product.a. Administrative salariesb. Direct laborc. Advertisingd. Property tax on the factorye. Interest Expense