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Variable Overhead Variances

Morgan Tax Company considers $6,000$ direct labor hours or $300$ tax returns its normal monthly capacity. Its standard variable overhead rate is $$8$ per direct labor hour. During the current month, $$40,400$ of variable overhead cost was incurred in working $5,600$ direct labor hours to prepare $270$ tax returns. Determine the following variances, and indicate whether each is favorable or unfavorable:

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either $"$F$"$ for Favorable or $"$U$"$ for Unfavorable.

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