Compute the fixed overhead spending (budget) variance and the production volume variance for March and indicate whether each variance is favorable (F) or unfavorable (U). Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the fixed overhead spending variance. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below] The Platter Valley factory of Bybee industries manufactures field boots. The cost of each boot includes direct materials. direct labor, and manufacturing (factory) overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on dicet labor hours The company budgeted $13,110 variable factory overheod cost, $94,300 for fixed factory overhead cost and 2,300 direct labor hours (its practical capacity) to manufacture 4.600 pairs of boots in March The foctory used 3,200 direct labor hours in March to manufacture 4,300 pairs of boots and spent $16,300 on variable overhead during the month. The actual fixed overhead cost incurred for the month was $96.800. equired: Compute the fixed overhead spending (budget) variance and the production volume variance for March and indicate whether each artance is favorable (F) or unfavorable (U). Compute the fixed overhead flexible-budget variance for March. Is this variance favorable ( F ) or unfavorable (U)? Provide the appropriate journal entry to record the fixed overhead spending variance and the appropriate journal entry to record the roduction volume variance for March. Assume that the company uses a single account. Factory Overhead, to record overhead costs Compute the fixed overhead flexible-budget variance for March. Is this variance favorable (F) or unfavorable (U) ? Compute the fixed overhead spending (budget) variance and the production volume variance for March and indicate whether each variance is favorable (F) or unfavorable (U). Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the fixed overhead spending variance. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below] The Platter Valley factory of Bybee industries manufactures field boots. The cost of each boot includes direct materials. direct labor, and manufacturing (factory) overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on dicet labor hours The company budgeted $13,110 variable factory overheod cost, $94,300 for fixed factory overhead cost and 2,300 direct labor hours (its practical capacity) to manufacture 4.600 pairs of boots in March The foctory used 3,200 direct labor hours in March to manufacture 4,300 pairs of boots and spent $16,300 on variable overhead during the month. The actual fixed overhead cost incurred for the month was $96.800. equired: Compute the fixed overhead spending (budget) variance and the production volume variance for March and indicate whether each artance is favorable (F) or unfavorable (U). Compute the fixed overhead flexible-budget variance for March. Is this variance favorable ( F ) or unfavorable (U)? Provide the appropriate journal entry to record the fixed overhead spending variance and the appropriate journal entry to record the roduction volume variance for March. Assume that the company uses a single account. Factory Overhead, to record overhead costs Compute the fixed overhead flexible-budget variance for March. Is this variance favorable (F) or unfavorable (U)
