$[$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.$

equired:

Compute the factory overhead flexible$-$budget variance, the factory overhead spending variance, and the efficiency variance for

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

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

verhead efficiency variance 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.

Required $1$

Compute the factory overhead flexible$-$budget variance, the factory overhead spending variance, and the efficiency variance

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

Required $1$

Required $2$

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.$)$

View transaction listThe 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.