After graduation from the Business Accounting program at Algonquin college, you proudly accepted a well paying position as a cost accountant for
Serenade Manufacturing located in London, Ontario. The following is the standard card for the company's only product:
Manufacturing Costs	Standard Qty or Hrs	Standard Price or Rate	Standard Cost per Unit
Direct materials (metres)		4.0	$ 4.00	$ 16.00
Direct labour (DL Hrs)		1.5	$ 10.00	15.00
Variable overhead (DL Hrs)		1.5	$ 3.00	4.50
Fixed overhead (DL Hrs)		1.5	$ 7.00	10.50
Standard cost per unit				$ 46.00
Denominator activity level monthly (DL Hrs)				22,500
Budgeted Fixed overhead costs monthly					$ 157,500
For the past month of February 2022, the company proudly manufactured and sold	18,025	units. Variable and fixed manufacturing
overhead costs are applied to products on the basis of direct labour hours. All raw materials are direct materials, there are no indirect
materials. Additional actual manufacturing results, provided from the Controller, Emily Palmer, include:
		Metres or Hours	$
Direct materials purchased (metres)		70,190	$ 4.20	per metre
Beginning inventory of direct materials (metres)		22,100
Ending inventory of direct materials (metres)		22,000
Direct labour		29,260	$ 9.75	per hour
Fixed overhead costs			$ 155,775
Variable overhead costs			$ 90,000
Required:
Ms. Palmer has asked you to determine the following results for February 2022:
1. For direct materials:
a. Price and quantity variances		b. Journal entries to record activity
2. For direct labour:
a. Rate and efficiency variances		b. Journal entry to record labour activity
	3. Variable overhead spending and efficiency variances
		Spending Variance
		Efficiency Variance
4. Fixed overhead budget and volume variances
	Budget Variance
	Volume Variance