Answer Question 4 only

Answer Question 4 only

CRAZY Co, is a major producer of beauty products. The company uses a standard cost system to help control costs. Manufacturing overhead is applied to production on the basis of standard direct labor-hours. The company has a standard of 10 labor hours per unit. According to the company's planning budget, the following manufacturing overhead costs should be incurred at an activity level of 17,500 labor-hours (the denominator activity level): Variable manufacturing overhead cost. Fixed manufacturing overhead cost. Total manufacturing overhead cost $ 175,000 $420,000 $595,000 During the most recent year, the following operating results were recorded: Activity: Actual Production. 1,600 Total Actual labor-hours worked . 15,000 Cost: Actual variable manufacturing overhead cost incurred ... Actual fixed manufacturing overhead cost incurred ... $156,000 $418,800 Required: 1. Calculate the standard fixed manufacturing overhead rate and variable manufacturing overhead rate. 2. Compute spending and efficiency variances for variable overhead. 3. Compute the spending variance and production-volume variance for fixed overhead. 4. Prepare journal entries for variable and fixed manufacturing overhead costs and variances; write off these variances to cost of goods sold