8 part 2 ### Fixed Overhead Spending and Volume Variance ComputationTo compute the fixed overhead spending and volume variances, follow the instructions below. Ensure to indicate whether each variance is favorable, unfavorable, or shows no variance. Additionally, round "cost per unit" and "rate per hour" to two decimal places.#### Table Structure:- **Columns:** 1. **Actual Fixed Overhead Cost** - Empty fields for data input. 2. **Budgeted Overhead** - Empty fields for data input. 3. **Standard Cost (FOH applied)** - Empty fields for data input.- **Rows:** 1. Blank row for initial headings. 2. Input row marked as `$ 0` for Budgeted Overhead and `0` for another field. 3. Additional blank rows for further data entry.The table is structured to facilitate the calculation of variances by allowing the input of actual, budgeted, and standard costs associated with fixed overhead, and any variances derived can be classified based on their effect.Complete the table, analyze the data, and categorize the variances appropriately. ### Standard Costs and Variance Analysis for Trini Company**Standard Cost per Unit:**- **Direct materials**: 30 pounds @ $5.50 per pound = $165.00- **Direct labor**: 7 hours @ $14 per hour = $98.00- **Variable overhead**: 7 hours @ $6 per hour = $42.00- **Fixed overhead**: 7 hours @ $12 per hour = $84.00- **Total standard cost per unit** = $389.00**Overhead Application:**Overhead is applied using direct labor hours, with a standard overhead rate based on a predicted activity level of 80% of a quarterly capacity of 62,000 units.**Operating Levels:**- **70%**: - Production: 43,400 units - Direct labor hours: 303,800 hours - Budgeted overhead: - Fixed: $4,166,400 - Variable: $1,822,800- **80%**: - Production: 49,600 units - Direct labor hours: 347,200 hours - Budgeted overhead: - Fixed: $4,166,400 - Variable: $2,083,200- **90%**: - Production: 55,800 units - Direct labor hours: 390,600 hours - Budgeted overhead: - Fixed: $4,166,400 - Variable: $2,343,600**Current Quarter Operation:**Trini Company operated at 90% capacity, producing 55,800 units. Actual direct labor hours totaled 386,600 hours. Standard costs for production were:- **Direct materials**: 1,674,000 pounds @ $5.50 per pound = $9,207,000- **Direct labor**: 390,600 hours @ $14 per hour = $5,468,400- **Overhead**: 390,600 hours @ $18 per hour = $7,030,800- **Total standard (budgeted) cost** = $21,706,200**Actual Costs:**- **Direct materials**: 1,658,000 pounds @ $7.60 per pound = $12,600,800-

Name: 8 part 2 ### Fixed Overhead Spending and Volume Variance ComputationTo
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: 8 part 2 ### Fixed Overhead Spending and Volume Variance ComputationTo compute the fixed overhead spending and volume variances, follow the instructions below. Ensure to indicate whether each variance is favorable, unfavorable, or shows no variance.