Required information SB The Platter Valley factory of Bybee Industries... [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 $9,600 variable factory overhead cost and 2,000 direct labor hours to manufacture 4,000 pairs of boots in March. The factory used 3.700 direct labor hours in March to manufacture 3,800 pairs of boots and spent $16.800 on variable overhead during the month. For March, the Platter Valley factory of Bybee Industries budgeted $92,000 for fixed factory overhead cost. Its practical capacity is 2,000 direct labor hours per month (to manufacture 4.000 in of hontal 6 MUM Check my work UUUUUU $16,800 on variable overhead during the month For March, the Platter Valley factory of Bybee Industries budgeted $92,000 for fixed factory overhead cost. Its practical capacity is 2.000 direct labor hours per month (to manufacture 4.000 pairs of boots) The factory used 3,700 direct labor hours in March to manufacture 3,800 pairs of boots. The actual fixed overhead cost incurred for the month was $95.000. rt 2 of 2 ts kipped Exercises 15-30 Fixed Factory Overhead Cost Variances; Journal Entries [LO 15-2, 15-3) Book erences 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 overhead costs. Exercises 15-30 Fixed Factory Overhead Cost Variances; Journal Entries [LO 15-2, 15-3) Part 2 of 2 3 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 overhead costs pouts Skiced eBook Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Compute the fixed overhead spending (budget) variance and the production volume variance for March and indicate whet each variance is favorable (F) or unfavorable (U). Spending variance Production volume variance Required 2 > Part 2 of 2 3 Required: 1. Compute the fixed overhead spending (budget) variance and the production volume variance for Morch 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 (ul? 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 overhead costs. points Skipped eBook Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Compute the fixed overhead flexible-budget variance for March. Is this variance favorable (F) or unfavorable (U)? Fixed overhead flexible-budget variance Required 1 Required 3 > Journal entry worksheet 3 points B Sipped Record the fixed overhead spending variance. Book References Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Record entry Clear entry S nyt Journal entry worksheet
