Required information

$[$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 $$10,080$ variable factory overhead cost,

$$93,600$ for fixed factory overhead cost and $2,400$ direct labor hours

$($its practical capacity$)$ to manufacture $4,800$ pairs of boots in March.

The factory used $4,500$ direct labor hours in March to manufacture

$4,600$ pairs of boots and spent $$17,600$ on variable overhead during

the month. The actual fixed overhead cost incurred for the month was

$$97,400.$

The Platter Valley factory of Bybee Industries uses a two$-$variance analysis of the total

factory overhead variance.

Required:

Compute the total flexible$-$budget variance for overhead and the production volume

variance for March. What was the total factory overhead cost variance for March?

Indicate whether each variance is favorable $($F$)$ or unfavorable $($U$).$

Determine the three components of the total flexible$-$budget variance for overhead

$($i$.$e$.,$ the variable overhead spending variance, the variable overhead efficiency

variance, and the fixed overhead spending variance$)$; in addition, show the production

volume variance for March. Indicate whether each variance is favorable $($F$)$ or

unfavorable $($U$).$

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

Compute the total flexible$-$budget variance for overhead and the production volume varianc

factory overhead cost variance for March? Indicate whether each variance is favorable $($F$)$ c