Volte Corporation produces small electric appliances. The following information is available for the most recent period of operations:

Standard variable overhead rate	$ 3.00	per direct labor-hour
Actual output	26,500	units
Actual direct labor-hours used	35,500
Standard direct labor-hours	1.5	per unit
Actual direct labor cost incurred	$ 919,000
Standard direct labor-hour rate	$ 42
Actual variable overhead incurred	$ 117,500
Actual units sold	21,400	units

Volte never has any work-in-process inventories and began the year with no finished goods inventory.

Required:

a. and b. What was the variable overhead price variance and the variable overhead efficiency variance for the period?

c. Assume that Volte writes off all variances to Cost of Goods Sold. Prepare the entries Volte would make to record and close out the variances.

d. Assume that Volte prorates all variances to appropriate accounts. Prepare the entries Volte would make to record and close out the variances.

Volte Corporation produces small electrlc appliances. The following information is avallable for the most recent period of operations: Volte never has any work-In-process Inventorles and began the year with no finished goods Inventory. Requlred: a. and b. What was the varlable overhead price varlance and the varlable overhead efficlency varlance for the perlod? c. Assume that Volte writes off all varlances to Cost of Goods Sold. Prepare the entrles Volte would make to record and close out the varlances. d. Assume that Volte prorates all varlances to approprlate accounts. Prepare the entrles Volte would make to record and close out the varlances. Answer is not complete. Complete this question by entering your answers in the tabs below. What was the variable overhead price variance and the variable overhead efficiency variance for the period? 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