Please explain how to obtain fixed overhead spending variance and fixed overhead volume variance. Thank you!

Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.4 lbs. 1.7 hrs. 1.7 hrs. Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($212,520 = 84,000 units) Standard Price (Rate) $ 2.00 per lb. $ 9.00 per hr. $ 1.50 per hr. Standard Unit Cost $ 2.80 15.30 2.55 2.53 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 119, 100 140,000 $ 259,000 159,100 $ 559,100 $ 195, 100 $ 305,000 Required: Prepare the journal entry to record Barley Hopp's fixed manufacturing overhead costs and related variances for last year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet Credit No 1 Transaction 1 Debit 301,323 General Journal Cost of Goods Sold Fixed Overhead Spending Variance Fixed Overhead Volume Variance Cash or Accounts Payable 305,000