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Apollo, Inc., manufactures a special fabric used in space suits. Apollo's actual activity for the...

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Accounting

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Apollo, Inc., manufactures a special fabric used in space suits. Apollo's actual activity for the past month follows: The comoanv's standard costs are detailed as follows: Standards have been computed based on a budgeted activity level of 2,400 direct labor hours per month. Required: 1. Direct materials price variance: $ 2. Direct materials efficiency variance: $ 3. Direct labor price variance: $ 4. Direct labor efficiency variance: $ 5. Variable overhead efficiency variance: $ 7. Fixed overhead volume variance: $ 8. Total overhead spending (price) variance: $ 9. Journalize the variances using the simplified method described in class for the Overhead. General order of JE should be all deblts then credlts; Inventory flrst; varlances should be prlce then efflelency unless deblt/credlt is different; llability lest; varlable overheod varlences then flxed overhead. Journal entry worksheet Record materials purchase transaction. Note: Enter debits before credits. Journal entry worksheet Record the use of direct materials in production. Note: Enter debits before credits. Journal entry worksheet

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