Information on Ripley Company’s factory overhead costs for January 19X1 production activity is as follows: mju8

Ripley has a standard absorption and flexible budgeting system, and uses a job order cost accumulation system to accumulate costs.
Required:
Calculate the factory overhead variances for January 19X1 using the two-factor analysis method.

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Budgeted fixed factory overhead Standard fixed factory overhead application rate per direct labor hour........ Standard variable factory overhead application rate per direct labor hour.... Standard direct labor hours allowed for actual production.... Actual total factory overhead incurred.. $75,000 $3 $6 24,000 $220,000