Use this information to answer the next few questions: We know the following information for Gummy Bears Inc: Total Units of Product Produced: 40,000 Standard Costs 120,000 lbs @ $3.20 per lb. 12,000...

1: Calculate the fixed factory overhead volume variance and state why it is favorable or unfavorable. 2: Calculate the variable factory overhead controllable variance and state why it is favorable or unfavorable. 3: Calculate the total factory overhead variance.


Extracted text: Use this information to answer the next few questions: We know the following information for Gummy Bears Inc: Total Units of Product Produced: 40,000 Standard Costs 120,000 lbs @ $3.20 per lb. 12,000 lbs @ $24.40 per hr. Actual Costs 115,500 lbs @ $3.25 per lb 11,700 lbs @ $25.00 per hr Direct Materials Direct Labor Factory OH 100% of Capacity: 15,000 hours Variable Rate: $8.00 / hour $91,200 Variable Cost Fixed Rate: $10.00 / hours $150,000 Fixed Cost Each unit we produce requires 0.3 hour of direct labor