has the following standard cost sheet for its main product:

Direct Materials			2 feet at	$5 per foot	$10
Direct Labor			0.5 hours at	$10 per hour	$5
Variable overhead			0.5 hours at	$2 per hour	$1
Fixed overhead			0.5 hours at	$4 per hour	$2
Standard overhead					18

The fixed and variable overhead rates were based on expected activity of 3,200 hours.

During the year, the following actual results were recorded:

Actual results for year:
Production						6,000 units
Direct materials purchases 11,750 feet purchased - 11,000 feet used						61,100
direct labor 2,900 hours						29,580
variable overhead						6,000
fixed overhead						10, 500

REQUIRED:

1. Assuming that the company uses a 4-way overhead analysis, compute the following variances for Minnesota Manufacturing
2. Variable overhead spending and efficiency variances
3. Fixed overhead spending (budget) and volume variances
4. Show the journal entries needed to record the application of overhead, actual overhead, overhead variances and disposition of overhead variances under standard costing
5. Assuming that the company uses a 3-way overhead analysis, compute the spending, efficiency and volume variances.
6. Assuming that the company uses a 2-way overhead analysis, compute the budget variance and volume variance.
7. Compute the direct materials price and usage variances, and the direct labor rate and efficiency variances.
8. Record all related journal entries for above.
9. Compute all direct-cost variances and record journal entries for Standard Costing.