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Rouse manufactures coffee mugs that it sells to other companies for customizing with their own logos. Rouse prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59,700 coffee mugs per month: (Click the icon to view the cost data.) Actual cost and production information for July 2024 follows O (Click the icon to view actual cost and production information.) Read the Igguirements_ Date Accounts and Explanation Used direct materials Debit Credit Data table Direct Materials (0.2 lbs @ SO.2S per lb) Direct Labor (3 minutes @ $0.12 per minute) Manufacturing Overhead: Variable (3 minutes @ $0.04 per minute) Fixed (3 minutes @ $0.15 per minute) Total Cost per Coffee Mug More info s Journalize the incurrance and assignment of direct labor costs, including the related variances. (Prepare a 0.12 0.45 Date Jul. 0.05 0.36 057 0.98 Accounts and Explanation Work-in-Process Inventory Direct 'abor costs incurred Debit Credit Requirement 3. For manufacturing overhead, compute the variable overhead cost and efficiency varia Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the decimal places, XXYXX, and your final answers to the nearest whole dolllar. Abbreviations used: AC = a Formula Variance a. b. c. d. e. There were no beginning or ending inventory balances. All expenditures were on account Actual production and sales were 62,400 coffee mugs. Actual direct materials usage was 10,000 lbs. at an actual cost of SO.17 per lb. Actual direct labor usage was 203,000 minutes at a total cost of Actual overhead cost was $5,075 variable and $36,725 fixed Selling and administrative costs were S98,000. VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) ble (Round any interim calculatio ble overhead) . (Abbreviations used: AC = actual co print Done FOH cost variance Formula Actual FOH - Budgeted FOH Variance