Patel and Sons Inc. uses a standard cost system to apply factory overhead costs to units produced. Practical capacity for the plant is defined as 51,600 machine hours per year, which represents 25,800 units of output. Annual budgeted fixed factory overhead costs are $258,000 and the budgeted variable factory overhead cost rate is $2.50 per unit. Factory overhead costs are applied on the basis of standard machine hours allowed for units produced. Budgeted and actual output for the year was 19,500 units, which took 40,600 machine hours. Actual fixed factory overhead costs for the year amounted to $251,600 while the actual variable overhead cost per unit was $2.40.   Based on the information provided above, provide the appropriate journal entries: (a) to record the overhead cost variances for the period (thereby closing out the balance in the Factory Overhead account), and (b) to close the variance accounts to the Cost of Goods Sold (CGS) account at the end of the period. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Der Company uses a standard cost system in which it applies manufacturing overhead on the basis of direct labor-hours. Two direct labor-hours are required for each unit produced. The budgeted activity was set at 9,000 units. Manufacturing overhead was budgeted at $135,000 for the period; 20 percent of this cost was fixed. The 17,200 hours worked during the period resulted in production of 8,500 units. Variable manufacturing overhead cost incurred was $108,500 and fixed manufacturing overhead cost was $28,000. The fixed overhead production volume variance for the period was: a) $750 unfavorable. b) $2,500 unfavorable. c) $1,500 unfavorable. d) $1,000 unfavorable.

The total factory overhead for Garment Heater Company is budgeted for the year at $300,000. Garment Heater Company manufactures two types of furnaces: Red Deluxe and Energy Green. The Red Deluxe requires 10 direct labor hours for manufacture. The Energy Green requires 5 direct labor hours for manufacture Each product is budgeted for 200 units of production for the year. Determine (a) total number of budgeted direct labor hours for the year (b) the single plant wide factory overhead rate (c) the factory overhead allocated per unit for each product using the single plantwide factory overhead rate.

Over and Under, Inc. manufactures weaving looms. Before the period began, the company prepared the following manufacturing overhead budget for an expected activity level of 15,000 direct labor hours (DL hrs): Variable Manufacturing Overhead Costs $322,500 Fixed Manufacturing Overhead Costs $205,000 By the end of the period, the company noted that 3,000 fewer direct labor hours were logged than expected. The total actual manufacturing overhead costs incurred during the period was $545,000, of which, $325,000 was fixed. Which of the following statements is incorrect for the above data? A. The total volume variance can be calculated by multiplying the unit variable cost by the difference between the expected DL hrs and the actual DL hrs. B. The master budget variance related to fixed manufacturing overhead costs for the period equals $120,000. C. The volume variance for variable manufacturing overhead costs is favorable because fewer DL hrs were logged during production than expected. D.…