Shine City, manufactures pressure Cookers. Based on past experience, Shine City has found that its total annual overhead costs can be represented by the following formula: Overhead cost = $503,000 + $1.30X, where X equals a number of pressure Cookers. Last year, Shine City produced 30,000 Cookers. Actual overhead costs for the year were as expected.

Answer the following:

i. What is the driver for the overhead activity?

ii. What is the total overhead cost incurred by Shine City last year?

iii.. What is the total fixed overhead cost incurred by Shine City last year?

iv.. What is the total variable overhead cost incurred by Shine City last year?

Please write all the workings and details, explain the logic wherever applicable and required. Please do not just write the answer.

2. Jimmy Author Company has the following data for the past year:

Actual overhead	$412,000
Applied overhead:
Work-in-process inventory	$120,000
Finished goods inventory	180,000
Cost of goods sold	200,000
Total	$500,000

Calculate the overhead variance for the year and close it to cost of goods sold. Provide all the details and working outs.

Can you please answer it in 20 minute please?