PLEASE ANSWER WITHIN 15 MIN. IAM ON AN EXAM.

Husky Knobs has the following standard cost card for one unit its Brass Doorknob: Direct Materials: 5 kg @ $3.00 Direct Labour: 2 hours @ $20 Total overhead: 2 hours @ $8 $ 15 40 16 $ 71 Fixed overhead was budgeted at $1,920,000 for the year and was based on the production of 40,000 units per month, or 480,000 units per year. Actual inputs and costs to produce 45,000 units last month are as follows: Direct materials purchased 30,000 kg Cost of direct materials purchased $ 93,000 Direct materials used 27,000 kg Direct labour hours worked 85,000 Cost of direct labour $ 1,700,000 Variable overhead $ 525,000 Fixed overhead $ 170,000 Husky Knobs uses a standard costing system. Required: Calculate the following: a. The variable overhead rate (spending) variance (5 points) b. The variable overhead efficiency variance (5 points) c. The fixed overhead spending variance (5 ponts) d. The fixed overhead Production Volume Variance (5 points) Husky Knobs has the following standard cost card for one unit its Brass Doorknob: Direct Materials: 5 kg @ $3.00 Direct Labour: 2 hours @ $20 Total overhead: 2 hours @ $8 $ 15 40 16 $ 71 Fixed overhead was budgeted at $1,920,000 for the year and was based on the production of 40,000 units per month, or 480,000 units per year. Actual inputs and costs to produce 45,000 units last month are as follows: Direct materials purchased 30,000 kg Cost of direct materials purchased $ 93,000 Direct materials used 27,000 kg Direct labour hours worked 85,000 Cost of direct labour $ 1,700,000 Variable overhead $ 525,000 Fixed overhead $ 170,000 Husky Knobs uses a standard costing system. Required: Calculate the following: a. The variable overhead rate (spending) variance (5 points) b. The variable overhead efficiency variance (5 points) c. The fixed overhead spending variance (5 ponts) d. The fixed overhead Production Volume Variance (5 points)