Wasabi Pte Ltd makes separate journal entries for all cost accounting-related activities. It uses a standard costing system for all manufacturing items. For the month of April 2016, the following activities have taken place:

Actual Direct Manufacturing Materials Purchased $300,000 Direct Manufacturing Materials Used At Standard Price 250,000 Direct Materials Price Variance 10,000 Unfavourable Direct Materials Efficiency Variance 15,000 Favourable Direct Manufacturing Labour Rate Variance 6,000 Favourable Direct Manufacturing Labour Efficiency Variance 4,000 Unfavourable Direct Manufacturing Labour Payable 172,000

The estimated fixed overhead costs for 2016 is $324,000. The company uses direct labour hours for fixed overhead allocation and anticipates 10,800 hours during the year for 540,000 units. An equal number of units are budgeted for each month. During April 2016, 48,000 units were produced and $28,000 was spent on fixed overhead.

Required:

i. Describe how the above is tracked through the accounting system by posting the necessary journal entries to record all direct cost variances for the month. ii. Calculate all fixed overhead variances for April 2016