The following data were taken from the records of Griggs Company for December: Administrative expenses $100,800  Cost of goods sold (at standard) 550,000  Direct materials price variance—unfavorable 1,680  Direct materials quantity variance—favorable (560) Direct labor rate variance—favorable (1,120) Direct labor time variance—unfavorable 490  Variable factory overhead controllable variance—favorable (210) Fixed factory overhead volume variance—unfavorable 3,080  Interest expense 2,940  Sales 868,000  Selling expenses 125,000    Prepare an income statement for presentation to management. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not require an entry leave it blank. Griggs Company Income Statement For the Month Ended December 31       $               $   Unfavorable Favorable   Variances from standard cost:         $ $                                                         $ Operating expenses:         $             Total operating expenses             $ Other expense:                     $

The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output 4 Standard variable overhead rate per standard direct labor-hour $ 44 Good units produced 3,800 Actual direct labor-hours worked 14,675 Actual total direct labor cost $ 537,200 Direct labor efficiency variance $ 19,530 F Actual variable overhead $ 645,700 Required: Compute the direct labor and variable overhead price and efficiency variances. Note: 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. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance need help

Subject : Acounting

The standard costs and actual costs for factory overhead for the manufacture of 2,700 units of actual production are as follows: Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $17,800 Total fixed cost, $8,200 The total factory overhead cost variance is Oa. $1,600 unfavorable Ob. $2,930 favorable Oc. $2,930 unfavorable Od. $4,260 favorable Standard Costs 3 hours per unit at $0.70 per hour 3 hours per unit at $2.00 per hour