m:6 help plz im so lost ( please make surw answer is full and not cut off.) i hace posted this before and people dodnt do it correctly.

heres the requirments

Enter your search term Root manufactures coffee mugs that it sells to other companies TOT CUSTOITIIZIG with their own logos, Root 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: E (Click the icon to view the cost data.) m Actual cost and production information for July 2024 follows: LAL Requirements 1. Compute the cost and efficiency variances for direct materials and direct labor. 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? Actual cost and production information for July 2024 follows: Tore Info a. There were no beginning or ending inventory balances. All expenditures were on account. b. Actual production and sales were 62,400 coffee mugs. c. Actual direct materials usage was 10,000 lbs. at an actual cost of $0.17 per lb. d. Actual direct labor usage was 203,000 minutes at a total cost of $30,450. e. Actual overhead cost was $11,165 variable and $29,635 fixed. f. Selling and administrative costs were $120,000. Data Table Direct Materials (0.2 lbs @ $0.25 per lb) $ 0.05 0.36 Direct Labor (3 minutes @ $0.12 per minute) Manufacturing Overhead: Variable (3 minutes @ $0.06 per minute) Fixed (3 minutes @ $0.13 per minute) Total Cost per Coffee Mug $ 0.18 0.39 0.57 $ 0.98 Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials antes direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used AC = actual cost; AQ - actual quantity, FOH #fixed overhead, SC - standard cost, SO - standard quantity) Formula Variance Direct materials cost variance (AC-SC) *AQ Direct labor cost variance (AC-SC) XAQ Select the required formulas, compute the officiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used. AC = actual cost, AQ = actual quantity, FOH = fixed overhoad, SC standard cost; SQ - standard quantity) Formula Variance Direct materials efficiency variance Direct labor efficiency variance Requirement 2. Joumalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances (Record debits first, then credits Select the explanation on the last line of the journal entry table) Begin by journalizing the purchase of direct materials, including the related variance (Proparo a singlo compound journal entry) Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used: AC - actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost: S = standard quantity.) Formula Variance Direct materials cost variance (AC-SC) * AQ Direct labor cost variance (AC-SC) *AQ Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations usod: AC actual cost, AQ = actual quantity: FOH fixed overhead, SC - standard cost, SQ = standard quantity) Formula Variance Direct materials efficiency variance Direct labor efficiency variance Requirement 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Begin by joumalizing the purchase of direct materials, including the related variance. (Prepare a single compound journal entry) Requirement 2. Joumalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the purchase of direct materials, including the related variarice. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Jul Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Jul Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Jul Joumalize the incurrance and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Requirement 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round any interim calculations to four decimal places, XXXXX, and your final answers to the nearest whole dollar. Abbreviations used: AC = actual cost; AQ - actual quantity: FOH = fixed overhead: SC = standard cost, SQ = standard quantity; VOH variable overhead.) Formula Variance VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identity whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost, AQ actual quantity, FOH = fixed overhead, SC - standard cost, SQ = standard quantity) Variance FOH cost variance Formula FOH volume varianco Requirement 4. Joumalize the actual manufacturing overhead and the allocated manufacturing overhead Joumalize the movement of all production costs from Requirement 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the entry to show the actual manufacturing overhead costs incurred. Accounts and Explanation Debit Credit Date Jul Joumalize the applied manufacturing overhead Date Accounts and Explanation Debit Credit Jul Journalize the applied manufacturing overhead. Date Accounts and Explanation Debit Credit Jul. Journalize the movement of all production from Work-in-Process Inventory. Date Accounts and Explanation Debit Credit Jul. Journalize the adjusting of the Manufacturing Overhead account. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Jul. Requirement 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? Hiring more-skilled, higher-paid labor led to direct labor cost variance. Given the V direct labor efficiency variance, it appear that these more-skilled workers performed efficiently The overall net effect is thus management's decision was Requirements 1. Compute the cost and efficiency variances for direct materials and direct labor. 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account. 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? - More Info a. There were no beginning or ending inventory balances. All expenditures were on account b. Actual production and sales were 62,400 coffee mugs. C. Actual direct materials usage was 10,000 lbs. at an actual cost of $0.17 per lb. d. Actual direct labor usage was 203,000 minutes at a total cost of $30,450. e. Actual overhead cost was $11,165 variable and $29,635 fixed. f. Selling and administrative costs were $120,000. Data Table $ $ 0.05 0.36 Direct Materials (0.2 lbs @ $0.25 per lb) Direct Labor (3 minutes @ $0.12 per minute) Manufacturing Overhead: Variable (3 minutes @ $0.06 per minute) Fixed (3 minutes @ $0.13 per minute) Total Cost per Coffee Mug $ 0.18 0.39 0.57 $ 0.98