The Tavarez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4, 100 output units per year, included 5 machine-hours of variable manufacturing overhead at $8 per hour and 5 machine-hours of fixed manufacturing overhead at $17 per hour. Actual output produced was 4,400 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $380,000. Actual machine-hours were 27,500. Read the requirements. Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. Begin by calculating the following amounts for the variable overhead. Actual Input Actual Costs Flexible Allocated Incurred Budgeted Rate Budget Overhead - X Variable OH Requirements Now complete the table below for the fixed manufacturing overhead. 1. Prepare an analysis of all variable manufacturing overhead and fixed Same Budgeted manufacturing overhead variances, using the 4-variance analysis. Lump Sum 2. Prepare journal entries using the 4-variance analysis. Actual Costs Regardless of Flexible Allocated 3 . Describe how individual fixed manufacturing overhead items are controlled from day to day. Incurred Output Level Budget Overhead 4. Discuss possible causes of the fixed manufacturing overhead variances. Fixed OH Now complete the 4-variance analysis using the amounts you calculated above. (If no variance exists, leave the dollar value blank. Label 4-Variance Spending Efficiency Production-Volume Print Done Analysis Variance Variance Variance Variable OH Fixed OH Requirement 2. Prepare journal entries using the 4-variance analysis. Record the actual variable manufacturing overhead incurred. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal EntryThe Tavarez Company uses standard costing in its manufacturing plant for auto park. The standard cost of a particular auto part, based on a denominator level of 4,100 output units per year, included 5 machine-hours of variable manufacturing overhead at $8 per hour and 5 machine-hours of xed manufacturing overhead at $17 per hour. Actual output produced was 4,400 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $380,000. Actual machine-hours were 27,500. Read the muirements. Requirement 2. Prepare journal entries using the 4-varianoe analysis. Record the actual variable manufacturing overhead incurred. (Record debits rst, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Record the variable manufacturing overhead allocated. Journal Entry Date Accounts Debit Credit Record the variable manufacturing overhead variances for the period Journal Entry Date Accounts Debit Credit Calculator (9 Time Remaining: 01:44:40 m The Tavarez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4,100 output units per year, included 5 machine-hours of variable manufacturing overhead at $8 per hour and 5 machinehours of xed manufacturing overhead at $17 per hour Actual output produced was 4,400 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $380,000. Actual machine-hours were 27,500. Read the @uirements. Record the variable manufacturing overhead variances for the period. Journal Entry Date Accounts Debit Credit Record the actual xed overhead costs incurred. Journal Entry Date Accounts Debit Credit Record the xed overhead costs allocated. Journal Entry The Tavarez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4, 100 output units per year, included 5 machine-hours of variable manufacturing overhead at $8 per hour and 5 machine-hours of fixed manufacturing overhead at $17 per hour. Actual output produced was 4,400 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $380,000. Actual machine-hours were 27,500. Read the requirements. Record the fixed overhead costs allocated. Journal Entry Date Accounts Debit Credit Record the fixed overhead variances for the period. Journal Entry Date Accounts Debit Credit