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Overhead Variances, Four-Variance Analysis Derstman, Inc, uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output. of 120,000 units requiring 480,000 direct labor hours. (Practical capacity is 500,000 hours.) Annual budgeted overhead costs total $787,200, of which $556,800 is fixed) overhead. A total of 119,400 units using 478,000 direct labor hours were produced during the year, Actual variabie overhead costs for the year were $230,600, and actua fixed overhead costs were $556,250. Requiredt 1. Compute the fixed overheod spending and volume variances. 2. Compute tha variable overthead spending and efficiency variances. Variable Overtead Spending Variance Variable Overhed Emifiency Variance Feoboda F Check Mr Won 1. The four-variance method calculates two variances for variable overheod and two variances for fixed overhead. 2. The four-variance method calculates two variances for variable overhead and two variances for fixed overhead. Overthead Variances, Four-Variance Analysis Oerstman, Inci, uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 127,000 units requiring 508,000 direct labor hours. (Practical capacity is 528,000 hours.) Annual budgeted overhead costs total 5833,120 , of which 5604,520 is fixed overthead. A total of 119,500 units using 506,000 direct labor hours were produced during the year. Actual variable overheod costs for the year were $260,100, and actual foxed overhead costs were 5555,150 . Required: 1. Compute the fixed overhed spending and volume variances. 2. Compute the vartable overhead spending and efficiency varlances. Do not round intermediate calculations Variable Overhead Spending Variance Variable Overhead Efficiency Variance TOwa My werk 1. The four-yariance method calculates two variances for variable overhead and two variances for foced overhead. 2. The four-variance method calculates two variances for variable overtiead and two variances for fixed overhead