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Excel Sheet Provided

ABC Company has the following standards and flexible budget data: Standard variable overhead rate $6.20 per direct labor hour Standard quantity of direct labor 2.5 hours per unit of output Budgeted fixed overhead rate $100,000 Budgeted output 25,000 units Standard variable overhead $12.40 per unit Standard fixed overhead $4.50 per unit Actual results for November are given below: Actual output 30,500 units Actual variable overhead $365,000 Actual fixed overhead $107,000 Actual direct labor 57,000 Direct labor hours Required: Calculate the following variances and state if they are favorable or unfavorable. Variable manufacturing overhead spending variance (2.5 Marks) Favorable / Unfavorable Variable manufacturing overhead efficiency variance (2.5 Marks) Favorable / Unfavorable Fixed manufacturing overhead spending variance (2.5 Marks) Favorable / Unfavorable Fixed manufacturing overhead volume variance (2.5 Marks) Favorable / Unfavorable

Question 3 (a to d) Marks only 10 marks Always start your answer in column B...COLUMN A IS FOR INSTRUCTOR USE ONLY Please put correct answer in the space provided. ABC Company has the following standards and flexible budget data: Standard variable overhead rate $ 6.20 per direct labor hour Standard quantity of direct labor 2.5 hours per unit of output Budgeted fixed overhead rate $ 100,000 Budgeted output 25,000 units Standard variable overhead $ 12.40 per unit Standard fixed overhead $ 4.50 per unit Actual results for November are given below: Actual output Actual variable overhead Actual fixed overhead Actual direct labor $ $ 30,500 units 365,000 107,000 57,000 Direct labor hours Required: Calculate the following variances and state if they are favorable or unfavorable. a) Variable manufacturing overhead spending variance (2.5 Marks) Favorable / Unfavorable b) Variable manufacturing overhead efficiency variance (2.5 Marks) Favorable / Unfavorable c) Fixed manufacturing overhead spending variance (2.5 Marks) Favorable / Unfavorable