In the boxed areas provided, enter actual hours (or other application base), standard hours (or other application base), actual amount spent on variable overhead, and the standard variable overhead rate. Variable factory overhead variances will be automatically calculated, along with related journal entries. The initial values that are already entered correspond to values used in the example in the textbook. Try alternative values and closely consider and evaluate the changes to the variance calculations. Enter the actual hours (or other application base) to achieve output >>> 12,500 Enter the standard hours (or other application base) to achieve output >>>> 10,200 Enter the actual amount spent on variable factory overhead >>>> $ 105,000.00 Enter the standard variable overhead rate >>>> $ 10.00 Actual cost Standard cost 10,200 Total variance 10.00 $ 105,000.00 $ (3,000.00) $ 102,000.00 Actual use @ standard 12,500 Spending Variance 10.00 Efficiency Variance $ 20,000.00 $ 125,000 $ (23,000.00) Work in Process Inventory 102,000.00 Variable Overhead Efficiency Variance 23,000.00 Variable Overhead Spending Variance 20,000.00 Factory Overhead 105,000.00 To increase work in process for the standard variable overhead and record the related efficiency and spending variances