Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $100,000 25,000 units Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor 20,000 units $320,000 $ 97,000 50,000 hours Required: Use the following diagrams below (similar to Exhibit 11-6 and Exhibit 11-8 to compute (1) the variable-overhead spending and efficiency variances, and (2) the fixed-overhead budget and volume variances. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the variable-overhead spending and efficiency variances. (Round your "per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" ar effect (i.e., zero variance).) Variable-Overhead Spending And Efficiency Variances (Hours = Direct-Labor Hours) (3) (1) (2) (4) Actual Variable Overhead Projected Variable Overhead Flexible Budget: Variable Overhead Variable Overhead Applied To Work-In-Process Actual Hours (AQ) X Actual Rate (AVR) Actual Hours AQ) Standard Rate (SVR) Standard Allowed Hours Standard Rate (SVR) Standard Allowed Hours Standard Rate (SVR X hours per hour hours per hour hours per hour hours per hour Variable-overhead spending variance Variable-overhead efficiency variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the fixed-overhead budget and volume variances. (Round your "per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) (1) Fixed-Overhead Budget And Volume Variances (Hours = Direct-Labor Hours) (2) (3) Budgeted Fixed Fixed Overhead Applied To Work In Process Overhead Actual Fixed Overhead Stand Allowed Hours Standard Fixed- Overhead Rate X hours per hour Fixed-overhead budget variance Fixed-overhead volume variance (1) (2) Actual Variable Overhead Actual Actual Activity Level x Rate (AQ) (AVR) Projected Variable Overhead Actual Standard Activity Level x Rate (AQ) (SVR) (3) Flexible Budget: Variable Overhead Standard Allowed Standard Activity Level x Rate (SQ) (SVR) (4) Variable Overhead Applied to Work in Process Standard Allowed Standard Activity Level Rate (SVR) (SQ) 6,300 process hours $5.50 per process hour 6,300 hour hours x $5.00 per process hour 6,000 process hours $5.00 per process hour 6,000 process hours $5.00 per process hour $34,650 $31,500 $30,000 $30,000 $3,150 Unfavorable $1,500 Unfavorable No difference Variable-overhead spending variance Variable-overhead efficiency variance * Actual variable-overhead rate (AVR) Actual variable-overhead cost Actual process hours $34, 650 6,300 = $5.50 Actual Fixed Overhead Budgeted Fixed Overhead Fixed Overhead Applied to Work in Process Standard Allowed Activity Level Standard Fixed Overhead Rate 6,000 process hours $2.00 per process hour $16,100 $15,000 $12,000 $1,100 Unfavorable $3,000 (positive) Fixed-overhead Fixed-overhead budget variance volume variance Consistent with our discussion of the fixed-overhead volume variance, some financial planning and analysis systems would esignate a positive variance as "unfavorable." Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $100,000 25,000 units Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor 20,000 units $320,000 $ 97,000 50,000 hours Required: Use the following diagrams below (similar to Exhibit 11-6 and Exhibit 11-8 to compute (1) the variable-overhead spending and efficiency variances, and (2) the fixed-overhead budget and volume variances. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the variable-overhead spending and efficiency variances. (Round your "per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" ar effect (i.e., zero variance).) Variable-Overhead Spending And Efficiency Variances (Hours = Direct-Labor Hours) (3) (1) (2) (4) Actual Variable Overhead Projected Variable Overhead Flexible Budget: Variable Overhead Variable Overhead Applied To Work-In-Process Actual Hours (AQ) X Actual Rate (AVR) Actual Hours AQ) Standard Rate (SVR) Standard Allowed Hours Standard Rate (SVR) Standard Allowed Hours Standard Rate (SVR X hours per hour hours per hour hours per hour hours per hour Variable-overhead spending variance Variable-overhead efficiency variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the fixed-overhead budget and volume variances. (Round your "per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) (1) Fixed-Overhead Budget And Volume Variances (Hours = Direct-Labor Hours) (2) (3) Budgeted Fixed Fixed Overhead Applied To Work In Process Overhead Actual Fixed Overhead Stand Allowed Hours Standard Fixed- Overhead Rate X hours per hour Fixed-overhead budget variance Fixed-overhead volume variance (1) (2) Actual Variable Overhead Actual Actual Activity Level x Rate (AQ) (AVR) Projected Variable Overhead Actual Standard Activity Level x Rate (AQ) (SVR) (3) Flexible Budget: Variable Overhead Standard Allowed Standard Activity Level x Rate (SQ) (SVR) (4) Variable Overhead Applied to Work in Process Standard Allowed Standard Activity Level Rate (SVR) (SQ) 6,300 process hours $5.50 per process hour 6,300 hour hours x $5.00 per process hour 6,000 process hours $5.00 per process hour 6,000 process hours $5.00 per process hour $34,650 $31,500 $30,000 $30,000 $3,150 Unfavorable $1,500 Unfavorable No difference Variable-overhead spending variance Variable-overhead efficiency variance * Actual variable-overhead rate (AVR) Actual variable-overhead cost Actual process hours $34, 650 6,300 = $5.50 Actual Fixed Overhead Budgeted Fixed Overhead Fixed Overhead Applied to Work in Process Standard Allowed Activity Level Standard Fixed Overhead Rate 6,000 process hours $2.00 per process hour $16,100 $15,000 $12,000 $1,100 Unfavorable $3,000 (positive) Fixed-overhead Fixed-overhead budget variance volume variance Consistent with our discussion of the fixed-overhead volume variance, some financial planning and analysis systems would esignate a positive variance as "unfavorable