QUESTION 2 2 points Save Afirm with a standard costing system budgets 5,000 direct labor hours at $20 per hours to make 2,000 units. The firm actually produced 2,000 units using 6,000 direct labor hours at $22 per hour. When labor occurred during the period, what was the total dollar value of the credit to wages payable? QUESTION 3 2 points Tolton, Inc. is just shy of hitting its operating income target. The manager. KT. Tolton, decides to purchase inferior materials right before year end. The standard price for the materials is $13.00 per pound. K.T. buys 4,000 pounds of inferior product at $11.84 per pound. What is the effect on net income for the year? Please sign an increase as a positive number (e.g. 100) and a decrease as a negative number (e.g.-100). QUESTION 4 2 points S A favorable materials price variance combined with an unfavorable materials usage variance most likely is caused by the purchase of lower than standard quality materials. product mix production changes. the purchase and use of higher-than-standard quality materials. machine efficiency problems