Power Wheels produces electric toy vehicles for young children that look like real cars and trucks. The cost accountants at Power Wheels summarized the following data about the static budget and actual production for the last year.

$\backslash$table$[[$Units produced,Actual,Static Budget$],[$Machine hours required to produce one unit,$220,000,200,000],[$Variable overhead,$1\mathrm{.}40,1,50],[$Fixed overhead,$585,200,600,000]]$

Required:

Use the information in the table above to calculate the following variances and to post the requisite journal entries.

a$.$ Calculate the variable overhead flexible$-$budget variance.

b$.$ Calculate the variable overhead spending variance.

c$.$ Calculate the variable overhead efficiency variance.

d$.$ Calculate the fixed overhead spending variance.

e$.$ Calculate the production$-$volume variance.

f$.$ Prepare journal entries to record the variable overhead variances.

g$.$ Prepare journal entries to record the fixed overhead variances.

Complete this question by entering your answers in the tabs below.

Required $A$ to

Required $F$

Required G

a$.$ Calculate the variable overhead flexible$-$budget variance.

b$.$ Calculate the variable overhead spending variance.

c$.$ Calculate the variable overhead efficiency variance.

d$.$ Calculate the fixed overhead spending variance.

e$.$ Calculate the production$-$volume variance.

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$\backslash$table$[[,$Answer,Type$],[$a$.$ Variable overhead flexible$-$budget variance,,Unfavorable$],[$b$.$ Variable overhead spending variances,,Favorable$],[$c$.$ Variable overhead efficiency varlance,,Unfavorable$],[$d$.$ Fixed overhead spending variance,,Favorable$],[$e$.$ Production$-$volume variance,,Favorable$]]$