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 $13,110 variable factory overhead cost, $94,300 for fixed factory overhead cost and 2,300 direct labor hours (its practical capacity) to manufacture 4,600 pairs of boots in March. The factory used 3,200 direct labor hours in March to manufacture 4,300 pairs of boots and spent $16,300 on variable overhead during the month. The actual fixed overhead cost incurred for the month was $96,800. Exercises 15-29 (Algo) Variable Factory Overhead Variances; Journal Entries [LO 15-2, 15-3] Required: 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). 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).