Porter Company uses standard costs for its manufacturing division. Standards specify 0.1 direct labor hours per unit of product. The allocation base for variable overhead costs is direct labor hours. At the beginning of the year, the static budget for variable overhead costs included the following data: Production volume 6,400 units Budgeted variable overhead costs $15,000 Budgeted direct labor hours (DLHr) 640 hours At the end of the year, actual data were as follows Production volume 4,100 units Actual variable overhead costs $15,400 Actual direct labor hours (DLHr) 485 hours What is the variable overhead efficiency variance? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.) O A. $2,381 F O B. $1,758 U O C. $2,381 U OD. $1,758 F 3 Marciano Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds per unit of output) Cost per pound of direct materials The company plans to produce 2,500 units and has purchased on account 15,000 pounds of direct materials at a net cost of $43,200. What is the journal entry to record this transaction? $4 43,200 O A. Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 16,800 26,400 O B. Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 43,200 16,800 60,000 60,000 O C. Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 16,800 43,200 OD. Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 26,400 16,800 43,200 Meridian Fashions uses standard costs for their manufacturing division. The allocation base for overhead costs is direct labor hours. From the following data, calculate the fixed overhead cost variance. Actual fixed overhead Budgeted fixed overhead Standard overhead allocation rate Standard direct labor hours per unit Actual output $36,000 $25,000 $9 3 DLHO 2,000 units O A. $11,000 u O B. $29,000 F O C. $29,000 U OD. $11,000 F