The Following Information Comes from the Records of Magno Co

The following information comes from the records of Magno Co. for the current period.
a. Compute the overhead controllable and volume variances. In each case, state whether the variance is favorable or unfavorable.
b. Prepare the journal entries to charge overhead costs to work in process and the overhead variances to their proper accounts.
$\begin{array}{ll}\text { Actual costs and quantities: }\\ \text { Direct materials used} & 38,000 \text { feet @ } \$ 6.20 \text { per foot } \\ \text { Direct labor hours used } & 50,660 \text { hours } \\ \text { Direct labor rate per hour } & \$ 16 \\\text { Factory overhead } & \$ 211,600 \\25,000 \text { units were produced during the period. }\end{array}$

$\text { Standard costs and quantities per unit: }$
$\begin{array}{llr} \text { Direct materials } &\text {1.5 ft. @ \$6.10 per ft.}\\ \text {Direct labor } &\text {2 hours@\$17per hour}\\\end{array}$

Factory overhead (based on budgeted production of 24,500 units)
Variable overhead $\$ 2.25$ /direct labor hour
Fixed overhead $\$ 1.95 /$ direct labor hour