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The Platter Valley factory of Bybee Industrles manufactures field boots. The cost of each boot includes direct materlals,

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 $$9,600$ varlable factory overhead cost, $$92,000$ for fixed factory overhead cost and $2,000$ direct

labor hours $($its practical capacity$)$ to manufacture $4,000$ palrs of boots in March.

The factory used $3,700$ direct labor hours in March to manufacture $3,800$ palrs of boots and spent $$16,800$ on varlable

overhead during the month. The actual fixed overhead cost incurred for the month was $$95,000.$

Requlred:

Compute the fixed overhead spending $($budget$)$ varlance and the production volume varlance for March and Indicate whether each

varlance is favorable $($F$)$ or unfavorable $(U).$

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

Provide the approprlate journal entry to record the fixed overhead spending varlance and the approprlate journal entry to record the

production volume varlance 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.

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. $($If

no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$