MANAGERIAL ACCOUNTING: AC501 & 300 FALL - 2020 FINAL TERM STUDENT NAME: Simulation Question 1. (10 points) From the data below prepare (a) an analysis of factory overhead variances using the two-variance method and (b) journal entries for the analysis. Actual 25,600 Budegeted (normal capacity) Direct labor hours: 20,000 Factory overhead Fixed $ 14,000 $ Variable 16,000 Standard allowed for actual production: 17,000 19,000 24,000 hours (a) Factory Overhead Variance-Two-factor Analysis: (b) Journal entries