Required 1., 2.,&3. Prepare the jounal entries to record the direct materials, direct labor, variable overhead costs and related variances for Bullseye. Assume the company purchases raw materials as needed and does not maintain any ending inventories. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the entry for variable overhead costs and variances. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Required: 1., 2., &3. Prepare the jounal entries to record the direct materials, direct labor, variable overhead costs and related variances for Bullseye. Assume the company purchases raw materials as needed and does not maintain any ending inventories. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry for direct labor costs and variance Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Required: 1., 2., & 3. Prepare the journal entries to record the direct materials, direct labor, variable overhead costs and related variances for Bullseye. Assume the company purchases raw materials as needed and does not maintain any ending inventories. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry for direct materials costs and variances. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Bullseye Company manufactures dartboards. Its standard cost information follows Standard Standard Price ( Rate) Unit Cost Standard Quantity 1 hrs. 1hrs. Direct materials (cork board) Direct labor 2.5 sq. ft. 2.00 per sq. ft. $14.00 per hr $ 0.50 per hr 5.00 14.00 0.50 Variable manufacturing overhead (based on direct labor hours) 160,000 units) Fixed manufacturing overhead ($40,000 0.25 Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 140,000 360,000 $ 756,000 148,000 $1,938,800 $ 72,000 50,000 Required 1. Calculate the fixed overhead spending variance for Bullseye. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)
