McDormand, Inc., reported a $3,100 unfavorable price variance for variable overhead and a $31,000 unfavorable price variance for fixed overhead. The flexible budget had $1,049,700 variable overhead based on 34,990 direct labor-hours; only 34,070 hours were worked. Total actual overhead was $1,804,200. The number of estimated hours for computing the fixed overhead application rate totaled 37,400 hours.

Required:

a. Prepare a variable overhead analysis.

Prepare a variable overhead analysis. (Do not round intermediate calculations. 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.)

Price variance
Efficiency variance
Variable overhead cost variance

b. Prepare a fixed overhead analysis.

Prepare a fixed overhead analysis. (Do not round intermediate calculations. 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.)

Price variance
Production volume variance
Fixed overhead cost variance