please help with 5-7

The Hoster Shop (THS) specializes in making fraternity and sorority tote bags for the college market. THS produces bags in batch sizes of 65. For rush orders, THS will produce smaller batches for an additional charge of $149 per setup. Budgeted and actual costs for the production process for 2020 are as follows: (Click the icon to view the budgeted and actual costs.) Read the requirements Data table Requiremen Determine the Static-Budget Amounts Actual Results Budd 80.600 72,800 65 91 5 7.5 Requiremen Number of bags produced Average number of bags per setup Hours to set up machines Direct variable cost per setup-hour Total fixed setup overhead costs $ 28 $ 32 Determine th $ 15,500 $ 18,400 Requirement 1. What is the static budget number of setups for 2020? Determine the formula, then compute the static budget number of setups. Budgeted bags produced Budgeted bags per setup = Static budget number of setups 1240 80600 65 Requirement 2. What is the flexible-budget number of setups for 2020? Determine the formula, then compute the flexible-budget number of setups. . Actual bags produced Budgeted bags per setup = = Flexible budget number of setups 1120 72800 . 65 II Atieth lumabafotuni 2012 Requirement 3. What is the actual number of setups in 2020? Determine the formula, then compute the actual number of setups. Actual Actual bags produced - Actual bags per setup number of setups 800 72800 91 Requirement 4. Assuming fixed setup overhead costs are allocated using setup-hours, what is the predetermined fixed setup overhead allocation rate? First, determine the formula and compute the static budget number of hours. Static budget Static budget number of setups Budgeted hours per setup number of hours 1240 5 6200 X Now determine the formula and compute the predetermined fixed setup overhead allocation rate. Fixed overhead Static budget number of hours = rate Static budget fixed overhead 15500 6200 25 Requirement 5. Does THS's charge of $ 149 cover the budgeted variable overhead cost of an order? The budgeted total cost? (Abbreviation: OH = Overhead.) Begin by determining the formula and computing the budgeted variable overhead cost of an order. Budgeted variable OH 7 X cost of a setup X = Next, determine the formula and compute the budgeted fixed overhead cost of an order. Budgeted fixed OH cost of a setup Requirement 6. For direct variable setup costs, compute the price and efficiency variances. Begin by calculating the following amounts for the variable overhead. Actual input Actual costs X Flexible incurred budgeted rate budget Variable overhead Now compute the price and efficiency variances using the amounts you calculated above. (Label the variance as favorable (F) or unfavorable (U).) Price Efficiency variance variance Variable OH Requirement 7. For fixed setup overhead costs, compute the spending and the production-volume variances. Same budgeted lump sum regardless of Actual costs Allocated incurred output level overhead Fixed overhead Now compute the spending variance and production-volume variances using the amounts you calculated above. (Label the variance as favorable (F) or unfavorable (U).) Spending Production-volume variance variance Fixed overhead