The (partial) cost sheet for the single product manufactured at Briarcliff Corporation follows: (2 houre (2 hours (2 hours Direct labor Variable overhead Fixed overhead Actual variable overhead incurred Actual fixed overhead incurred Direct labor efficiency variance Variable overhead price variance $30) $9) $11) The master budget level of production is 45,330 direct labor-hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following: $ 60 18 22 a. Variable overhead efficiency variance b. Fixed overhead price variance c. Fixed overhead production volume variance Required: a. What was the variable overhead efficiency variance? b. What was the fixed overhead price variance? c. What was the fixed overhead production volume variance? $ 510,000 472,900 72,900 F 85,200 U Note: For all requirements, 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. Answer is complete but not entirely correct. $ $ $ 21,870 25,730 43,740 F F F 000

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyz…