Please provide answers with calculations and explanations.

Q1

A favorable materials quantity variance might occur if:

A. less materials were purchased than were used.

B. a new employee training program increased worker productivity.

C. actual labor hours used were less than the standard labor hours allowed.

D. actual pounds of materials used were more than the standard pounds allowed.

Q2

An unfavorable labor price variance might occur if:

A. units produced during a period were greater than expected.

B. market competition forced the company to increase all wages.

C. overtime hours were less than budgeted.

D. the factory manager was given a 60% raise.

Q3

Skippy Longbottom did not pay attention in accounting class and failed out of school. As a result, he could only get a job managing the mail room of a local paper company. He's not responsible for bringing in customers or setting prices. He just manages the mail room supplies budget. His responsibility center should be classified as which of the following?

A. Investment center

B. Cost center

C. Expense center

D. Profit center

E. Revenue center

Q4

Teddy Arnold is a manager of a responsibility center.

His boss holds him accountable for Return on Investment (ROI) and Residual Income (RI).

His unit is probably classified as which of the following responsibility centers?

A. Investment center

B. Cost center

C. Expense center

D. Profitcenter

E. Revenue center

Q5

A standard budget shows that to produce 5,000 units, 15,000 labor hours are expected at an expected rate of $10/hr.

Over the period, 8,000 units were produced and $192,000 of labor costs were incurred.

16,000 labor hours were used.

What was the labor rate variance (LRV) for the period?

If favorable, answer as positive; if unfavorable, answer as negative.