The River Plant of Carlisle, Incorporated produces a particular metal fixture used in aerospace and maritime industries. The following information is available for the last operating month:

The plant produced and sold 29,072 fixtures for $72 each. Budgeted production was 30,000 fixtures.

Standard variable costs per fixture follow:

Direct materials: 4 pounds at $4	$ 16.00
Direct labor: 0.1 hours at $40	4.00
Variable production overhead: 0.4 machine-hours at $20 per hour	8.00
Total variable costs	$ 28.00

Fixed production overhead costs:

Monthly budget $816,400

Fixed overhead is applied at the rate of $30 per fixture.

Actual production costs:

Direct materials purchased and used: 106,600 pounds at $4.36	$ 464,776
Direct labor: 2,890 hours at $44.50	128,605
Variable overhead: 12,100 machine-hours at $19.56 per hour	236,676
Fixed overhead	865,000

Required:

a. Prepare a cost variance analysis for each variable cost for the River Plant. b. Prepare a fixed overhead cost variance analysis. c. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period.

Prepare a fixed overhead cost variance analysis. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare a fixed overhead cost variance analysis. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field