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The Delcarmen Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 3,600 output units per year included 5 machine-hours of variable manufacturing overhead at $7 per hour and 5 machine-hours of fixed manufacturing overhead at $17 per hour. Actual output produced was 3,900 units Variable manufacturing overhead incurred was $250,000. Fixed manufacturing overhead incurred was $385,000. Actual machine-hours were 27,000. Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. Begin by calculating the following amounts for the variable overhead. Actual Input Actual Costs Flexible Allocated Incurred Budgeted Rate Budget Overhead Variable OH Now complete the table below for the fixed manufacturing overhead Same Budgeted Lump Sum Actual Costs Regardless of Flexible Budget Allocated Incurred Output Level Overhead Now complete the 4-variance analysis using the amounts you calculated above. (f no variance exists, leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).) Efficiency Variance 4-Variancie Spending Production-Volume Variance Variance Variable OH Requirement 2. Prepare journal entries using the 4-variance analysis. Record the actual variable manufacturing overhead incurred. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Record the variable manufacturing overhead allocated Journal Entry Date Accounts Debit Credit Record the variable manufacturing overhead variances for the period. Journal Entry Date Accounts Debit Credit Record the actual fixed overhead costs incurred Journal Entry Date Accounts Debit Credit Journal Entry Date Accounts Debit Credit Record the actual fixed overhead costs incurred Journal Entry Date Accounts Debit Credit Record the fixed overhead costs allocated. Journal Entry Date Accounts Debit Credit Record the fixed overhead variances for the period. Date Accounts Debit Credit