Part 1 of 4 - The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot Includes direct materials. direct labor, and manufacturing (factory overhead. The firm traces all direct costs to products, and It assigns overhead cost to products based on direct labor hours. The company budgeted $10.250 variable factory overhead cost $90,200 for fixed factory overhead cost and 2050 direct labor hours (Its practical capacity to manufacture 4.100 pairs of boots In March. The factory used 3,500 direct labor hours in March to manufacture 4,000 pairs of boots and spent $16,600 on variable overhead during the month. The actual fixed overhead cost incurred for the month was $93.000. 10 points Skipped Required: 1. Compute the factory overhead flexible-budget variance, the factory overhead spending varlance, and the efficiency variance for variable factory overhead for March and state whether each variance is favorable (F) or unfavorable (U). 2. Provide the appropriate journal entry to record the variable overhead spending varlance and a second entry to record the variable overhead efficiency variance for March. Assume that the company uses a single account, Factory Overhead, to record overhead costs. eBook Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Compute the factory overhead flexible-budget variance, the factory overhead spending variance, and the efficiency variance for variable factory overhead for March and state whether each variance is favorable (F) or unfavorable (U). Spending variance Efficiency variance Variable overhead flexible-budget variance M Part 1 of 4 - The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot Includes direct materials. direct labor, and manufacturing (factory overhead. The firm traces all direct costs to products, and It assigns overhead cost to products based on direct labor hours. The company budgeted $10.250 variable factory overhead cost $90,200 for fixed factory overhead cost and 2050 direct labor hours (Its practical capacity to manufacture 4.100 pairs of boots In March. The factory used 3,500 direct labor hours in March to manufacture 4,000 pairs of boots and spent $16,600 on variable overhead during the month. The actual fixed overhead cost incurred for the month was $93.000. 10 points Skipped Required: 1. Compute the factory overhead flexible-budget variance, the factory overhead spending varlance, and the efficiency variance for variable factory overhead for March and state whether each variance is favorable (F) or unfavorable (U). 2. Provide the appropriate journal entry to record the variable overhead spending varlance and a second entry to record the variable overhead efficiency variance for March. Assume that the company uses a single account, Factory Overhead, to record overhead costs. eBook Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Compute the factory overhead flexible-budget variance, the factory overhead spending variance, and the efficiency variance for variable factory overhead for March and state whether each variance is favorable (F) or unfavorable (U). Spending variance Efficiency variance Variable overhead flexible-budget variance M