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The Platter Valley factory of Bybee Industries 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 $4,000$ pairs 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 factory overhead flexible$-$budget varlance, the factory overhead spending varlance, and the efficlency varlance for

varlable factory overhead for March and state whether each varlance is favorable $($F$)$ or unfavorable $($U$).$

Provide the approprlate journal entry to record the varlable overhead spending varlance and a second entry to record the varlable

overhead efficlency varlance for March. Assume that the company uses a single account, Factory Overhead, to record overhead costs.

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Provide the appropriate journal entry to record the variable overhead spending variance and a second entry to record the

variable overhead efficiency 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.$)$