8-5 a and b please

Requinet Record the journal entry to dispose of any variances (close to Cost b. of Goods Soldh The standard amount of output for the Chicago plant of Worldworth C Problem 8-5 Compute overhead variances under two assumptions (L.O. 4) Company is 50,000 unit Overhead is applied based on units produced. The flexible budget of the m flexible budget of the month for manufacturing overhead allows S180,000 for fixed overhead and $4.80 variable overhead. Actual overhead for the month consisted of $181.440 t of actual variable overhead follows. Required Compute the overhcad budget variance and the overhead volume variance assum e assuming the following actual production in units and actual variable overhead in dollars: a. 37,500 and $182,400. b. 55,000 and $270,480. on a standard volume of output of 96,000 units per month, the standard cost of the product Problem 8-6 Compute materials, labor, and overhead variances (L.O. 4) Based manufactured by Tahoe Company consists of: Direct materials (0.25 pounds $8 per pound) Direct labor (0.5 hours x $7.60 per hour) Variable manufacturing overhead Fixed manufacturing overhead ($144,000 in total) Total $2.00 3.80 2.50 1.50 $9.80 A total of 25,200 pounds of materials was purchased at $8.40 per pound. During May., 98 units were produced with the following costs: Direct materials used (24,000 pounds at $8.40) Direct labor (50,000 hours at $7.80) Variable manufacturing overhead Fixed manufacturing overhead $201,600 390,000 249,000 145,000 Compute the materials price and usage variances, the labor rate and efficiency variances, and the overhead budget and volume variances. (Overhead is applied based on units produced.)