Montana Corporation 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 Unit Cost			$18

The fixed and variable overhead rates were based on expected activity of 2,500 hours.

During the year, the following actual restults 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

1) Compute the direct materials price and usage variances, and the direct labor rate and efficiency variances. Record the journal entries using standard costing. For direct materials, do the variances for the following 2 scenarios: a) 11,000 feet purchased and used b) 11,750 purchased and 11,000 used (as shown above)

2) Compute the variable overhead spending and efficiency variances.

3) Compute the fixed overhead spending and volume variances.

4) Record all related journal entries for above under standard costing