Mini$-$Exercise $15-4($Algo$)$ Direct labor variances LO $15-4,15-5$

Acme Company's production budget for August is $18,500$ units and includes the following component unit costs: direct materials, $$8\mathrm{.}10$; direct labor, $$11\mathrm{.}00$; variable overhead, $$5\mathrm{.}00.$ Budgeted fixed overhead is $$42,000.$ Actual production in August was $20,250$ units. Actual unit component costs incurred during August include direct materials, $$9\mathrm{.}20$; direct labor, $$10\mathrm{.}40$; variable overhead, $$5\mathrm{.}50.$ Actual fixed overhead was $$44,500.$ The standard direct labor cost per unit consists of $0\mathrm{.}5$ hpur of labor time at $$22$ per hour. During August, $$210,600$ of actual labor cost was incurred for $9,000$ direct labor hours.

Required:

Calculate the labor rate variance and labor efficiency variance for August.

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[$Labor rate variance,,$],[$Labor efficiency variance,,$]]$

Mini$-$Exercise $15-6($Algo$)$ Fixed overhead variances LO $15-4,15-5,15-6$

Acme Company's production budget for August is $19,400$ units and includes the following component unit costs: direct materials, $$10\mathrm{.}0$; direct labor, $$12\mathrm{.}5$; variable overhead, $$6\mathrm{.}00.$ Budgeted fixed overhead is $$51,000.$ Actual production in August was $20,928$ units. Actual unit component costs incurred during August include direct materials, $$10\mathrm{.}50$; direct labor, $$12\mathrm{.}00$; variable overhead, $$6\mathrm{.}50.$ Actual fixed overhead was $$54,400.$ The standard fixed overhead application rate per unit consists of $$2\mathrm{.}5$ per machine hour and each unit is allowed a standard of $1$ hour of machine time.

Required:

Calculate the fixed overhead budget variance and the fixed overhead volume variance.

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[$Fixed overhead budget variance,,$],[$Fixed overhead volume variance,,$]]$