Questions 1 - 5 are based on the following information: The Roller Bag Company manufactures extremely light and rolling suitcases. It was one of the first companies to produce rolling suitcases, and sales have increased for the past several years. In 2020 , Roller Bag budgeted to sell 150,000 suitcases for $80 each. The budgeted standard machine hours for production in 2020 were 375,000 machine hours. Budgeted fixed overhead costs are $525,000, and the variable overhead cost was budgeted at $1.75 per machine hour. The machine hour is a single allocation base for overhead costs. In 2020, Roller Bag experienced a drop in sales due to increased competition for rolling suitcases. Roller Bag used 310,000 machine hours to produce the 120,000 suitcases it sold in 2020. Actual variable overhead costs were $488,000, and actual fixed overhead costs were $532,400. The average selling price of the suitcases sold in 2020 Was $72. Actual direct materials and direct labor costs were the same as standard costs, which were $20 per unit and $18 per unit, respectively. What are the variable overhead spending and efficiency variances, respectively? U indicates an unfavorable variance, while F indicates a favorable variance. A. $54,500(U);$17,500(F) B. $42,500(F):$17,500(U) c. $42,500(U):$17,500(F) D. $54,500 (F): $17,500(U) What are the fixed overhead spending and production volume variances, respectively? U indicates an unfavorable variance, while F indicates a favorable variance. A. $7,400 (U): $105,000 (U) B. $7,400 (F): $105,000 (U) C. $7,400 (F): $105,000 (F) D. $7,400(U);$105,000(F) QUestion 3 What is the total budgeted cost per suitcase? A. $54.500 B. $42.500 C. $45.875 D. $54.500 QUESTION 4 What is the operating income based on budgeted profit per suitcase? A. $4,095,000 B. $4,587,500 C. $3,450,000 D. $5,450,000 What is the operating income volume variance if the operating income under the static budget is $5,118,750 ? A. $1,587,500 favorable B. $1,095,000 favorable c. $1,450,000 unfavorble D. $1,023,750 unfavorable