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$[$The following information applies to the questions displayed below.$]$

The Platter Valley factory of Bybee Industries manufactures field boots. The cost of

each boot includes direct materials, direct labor, and manufacturing $($factory$)$

overhead. The firm traces all direct costs to products, and it assigns overhead cost

to products based on direct labor hours.

The company budgeted $$10,120$ variable factory overhead cost, $$94,300$ for fixed

factory overhead cost and $2,300$ direct labor hours $($its practical capacity$)$ to

manufacture $4,600$ pairs of boots in March.

The factory used $4,300$ direct labor hours in March to manufacture $4,400$ pairs of

boots and spent $$17,400$ on variable overhead during the month. The actual fixed

overhead cost incurred for the month was $$97,900.$

$($DLH $=$ Direct Labor Hours, FB $=$ Flexible Budget, $AQ=$ Actual Quantity, SQ $=$

Standard Quantity, AP $=$ Actual Price, $AH=$ Actual Hours, $SH=$ Standard Hours, and

$SP=$ Standard Price$)$

Required:

Compute the fixed overhead spending $($budget$)$ variance and the production volume variance for

March and indicate whether each variance is favorable $($F$)$ or unfavorable $($U$).$

Compute the fixed overhead flexible$-$budget variance for March. Is this variance favorable $($F$)$ or

unfavorable $($U$)?$

Provide the appropriate journal entry to record the fixed overhead spending variance and the

appropriate journal entry to record the production volume variance for March. Assume that the

company uses a single account, Factory Overhead, to record overhead costs.

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

Required $1$

Compute the fixed overhead spending $($budget$)$ variance and the production volume variance for March ar

each variance is favorable $(F)$ or unfavorable $(U).($DLH $=$ Direct Labor Hours, FB $=$ Flexible Budget, $AQ=$ Actual Quantity, SQ $=$

Standard Quantity, AP $=$ Actual Price, $AH=$ Actual Hours, $SH=$ Standard Hours, and

$SP=$ Standard Price$)$

Required:

Compute the fixed overhead spending $($budget$)$ variance and the production volume variance for

March and indicate whether each variance is favorable $($F$)$ or unfavorable $($U$).$

Compute the fixed overhead flexible$-$budget variance for March. Is this variance favorable $($F$)$ or

unfavorable $($U$)?$

Provide the appropriate journal entry to record the fixed overhead spending variance and the

appropriate journal entry to record the production volume variance for March. Assume that the

company uses a single account, Factory Overhead, to record overhead costs.

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

Required $1$

Required $2$

Required $3$

Compute the fixed overhead flexible$-$budget variance for March. Is this variance favorable $($F$)$ or unfavora Provide the approprlate Journal entry to record the tixed overnead spending varlance and the

appropriate journal entry to record the production volume variance for March. Assume that the

company uses a single account, Factory Overhead, to record o

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$[$The following information applies to the questions displayed below.$]$

The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot includes direct materials, direct labor, and manufacturing $($factory$)$ overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on direct labor hours.

The company budgeted $$10,120$ variable factory overhead cost, $$94,300$ for fixed factory overhead cost and $2,300$ direct labor hours $($its practical capacity$)$ to manufacture $4,600$ pairs of boots in March.

The factory used $4,300$ direct labor hours in March to manufacture $4,400$ pairs of boots and spent $$17,400$ on variable overhead during the month. The actual fixed overhead cost incurred for the month was $$97,900.$

$($DLH $=$ Direct Labor Hours, FB $=$ Flexible Budget, AQ $=$ Actual Quantity, SQ $=$ Standard Quantity, AP $=$ Actual Price, AH $=$ Actual Hours, SH $=$ Standard Hours, and SP $=$ Standard Price$)$

Required:

$1.$ Compute the fixed overhead spending $($budget$)$ variance and the production volume variance for March and indicate whether each variance is favorable $($F$)$ or unfavorable $($U$).$

$2.$ Compute the fixed overhead flexible$-$budget variance for March. Is this variance favorable $($F$)$ or unfavorable $($U$)?$

$3.$ Provide the appropriate journal entry to record the fixed overhead spending variance and the appropriate journal entry to record the production volume variance for March. Assume that the company uses a single account, Factory Overhead, to record $($DLH Complet