Data:

Only the 4-variance analysis question needs an answer

Pro Whiz manufactures premium food processors. The following are some manufacturing overhead data for Pro Whiz for the year ended December 31, 2017: (Click the icon to view the data.) i Data Table Actual Results Flexible Budget Static Allocated Budget Amount Output units 954 888 1.526 1.908 1.776 1.60 $ 71.722 $ Machine-hours Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs Fixed MOH costs per machine-hour 2.00 83,952 $ 78,144 $ 83,952 S 44.00 $ 350,205 $ 344,544 $ 376,300 $ 194.00 Requirement 1. Prepare journal entries for variable and fixed manufacturing overhead (you will need to calculate the various variances to accomplish this). Begin by calculating the following amounts for the variable overhead that will be used to calculate the various variances. Actual Costs Actual Input Allocated Incurred Budgeted Rate Flexible Budget Overhead Variable MOH $ 71,722 5 67,144 $ 83.952 S 83,052 Now complete the table below for the fixed manufacturing overhead that will be used to calculate the various variances. Same Budgeted Lump Sum Actual Costs Regardless of Allocated Incurred Output Level Flexible Budget Overhead Fixed MOH S 350.205 344,544 $ 344,544 $ 376,300 Now complete the 4-variance analysis using the amounts you calculated above. (If no variance exists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).) Production-Volume 4-Variance Analysis Spending Variance Efficiency Variance Variance Variable MOH Fixed MOH