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plz help 2/2 6 somone answered only the first part so i an reposting it because i need help woth thr whole thing. plz make sire answers arent cut off.

Root manufactures coffee mugs that it sells to other companies for customizing with their own logos. Root prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59,700 coffee mugs per month: Click the icon to view the cost data.) Actual cost and production information for July 2024 follows: (Click the icon to view actual cost and production information.) Read the requirements Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity, FOH = fixed overhead, SC - standard cost; SQ = standard quantit Formula Variance Direct materials cost variance (AC-SC) XAQ Direct labor cost variance (AC-SC) XAQ Select the required formulas, compute the efficiency variances direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC # actual cost, AQ - actual quantity, FOH = fixed overhead, SC - standard cost: SO standard quantity) Formula Variance Direct materials efficiency variance Data Table $ $ 0.05 0.36 Direct Materials (0.2 lbs @ $0.25 per lb) Direct Labor (3 minutes @ $0.12 per minute) Manufacturing Overhead: Variable (3 minutes @ $0.06 per minute) Fixed (3 minutes @ $0.13 per minute) $ 0.18 0.39 0.57 $ 0.98 Total Cost per Coffee Mug 1 - 1 Requirements 1. Compute the cost and efficiency variances for direct materials and direct labor. 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account. 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost; AQ = actual quantity; FOH = fixed overhead: SC = standard cost , SQ - standard quantity Formula Variance Direct materials cost variance (AC-SC) AQ Direct labor cost variance (AC-SC)* AQ Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost, AQ = actual quantity; FOH - fixed overhead, SC - standard cost; SQ = standard quantity) Formula Variance Direct materials officiency variance Direct labor efficiency variance Requirement 2. Joumalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances (Record debits first, the credits. Select the explanation on the last line of the journal entry table.) Beain by journalizing the purchase of direct materials, including the related variance (Prepare a sinalo compound journal entry) Requirement 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by joumalizing the purchase of direct materials, including the related varianco. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Jul . Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Jul Journalize the incurrance and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry) Accounts and Explanation Debit Credit Jul Date Requirement 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round any interim calculations to four decimal places, X.XXXX, and your final answers to the nearest whole dollar. Abbreviations used: AC - actual cost; AQ - actual quantity, FOH = fixed overhead: SC standard cost; SQ - standard quantity: VOH - variable overhead) Varianco VOH cost variance Formula - Requirement 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume vanances Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round any interim calculations to four decimal places, X.XXXX, and your final answers to the nearest whole dollar. Abbreviations usef: AC = actual cost, AD = actual quantity: FOH = fixed overhead: SC - standard cost, SQ = standard quantity, VOH = variable overhead) Formula Variance VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost, AQ = actual quantity: FOH = fixed overhead, SC = standard cost SQ - standard quantity) Variance FOH cost variance FOH volume variance Formula Requirement 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead Journalize the movement of all production costs from th Requirement 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the entry to show the actual manufacturing overhead costs incurred. Accounts and Explanation Debit Credit Date JUL Journalize the applied manufacturing overhead. Date Accounts and Explanation Debit Credit Jul 11 Journalize the movement of all production from Work-in-Process Inventory. Date Accounts and Explanation Debit Credit Jul. Journalize the adjusting of the Manufacturing Overhead account. (Prepare a single compound journ Date Accounts and Explanation Debit Credit Jul. Requirement 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? Hiring more-skilled, higher-paid labor led to direct labor cost variance. Given the direct labor efficiency variance, it appear that these more-skilled workers performed officiently The overall net effect is thus management's decision was Root manufactures coffee mugs that it sells to other companies for customizing with their own logos. Root prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59,700 coffee mugs per month: Click the icon to view the cost data.) Actual cost and production information for July 2024 follows: (Click the icon to view actual cost and production information.) Read the requirements Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity, FOH = fixed overhead, SC - standard cost; SQ = standard quantit Formula Variance Direct materials cost variance (AC-SC) XAQ Direct labor cost variance (AC-SC) XAQ Select the required formulas, compute the efficiency variances direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC # actual cost, AQ - actual quantity, FOH = fixed overhead, SC - standard cost: SO standard quantity) Formula Variance Direct materials efficiency variance Data Table $ $ 0.05 0.36 Direct Materials (0.2 lbs @ $0.25 per lb) Direct Labor (3 minutes @ $0.12 per minute) Manufacturing Overhead: Variable (3 minutes @ $0.06 per minute) Fixed (3 minutes @ $0.13 per minute) $ 0.18 0.39 0.57 $ 0.98 Total Cost per Coffee Mug 1 - 1 Requirements 1. Compute the cost and efficiency variances for direct materials and direct labor. 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account. 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost; AQ = actual quantity; FOH = fixed overhead: SC = standard cost , SQ - standard quantity Formula Variance Direct materials cost variance (AC-SC) AQ Direct labor cost variance (AC-SC)* AQ Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost, AQ = actual quantity; FOH - fixed overhead, SC - standard cost; SQ = standard quantity) Formula Variance Direct materials officiency variance Direct labor efficiency variance Requirement 2. Joumalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances (Record debits first, the credits. Select the explanation on the last line of the journal entry table.) Beain by journalizing the purchase of direct materials, including the related variance (Prepare a sinalo compound journal entry) Requirement 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by joumalizing the purchase of direct materials, including the related varianco. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Jul . Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Jul Journalize the incurrance and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry) Accounts and Explanation Debit Credit Jul Date Requirement 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round any interim calculations to four decimal places, X.XXXX, and your final answers to the nearest whole dollar. Abbreviations used: AC - actual cost; AQ - actual quantity, FOH = fixed overhead: SC standard cost; SQ - standard quantity: VOH - variable overhead) Varianco VOH cost variance Formula - Requirement 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume vanances Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round any interim calculations to four decimal places, X.XXXX, and your final answers to the nearest whole dollar. Abbreviations usef: AC = actual cost, AD = actual quantity: FOH = fixed overhead: SC - standard cost, SQ = standard quantity, VOH = variable overhead) Formula Variance VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC - actual cost, AQ = actual quantity: FOH = fixed overhead, SC = standard cost SQ - standard quantity) Variance FOH cost variance FOH volume variance Formula Requirement 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead Journalize the movement of all production costs from th Requirement 4. Journalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work-in-Process Inventory. Journalize the adjusting of the Manufacturing Overhead account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the entry to show the actual manufacturing overhead costs incurred. Accounts and Explanation Debit Credit Date JUL Journalize the applied manufacturing overhead. Date Accounts and Explanation Debit Credit Jul 11 Journalize the movement of all production from Work-in-Process Inventory. Date Accounts and Explanation Debit Credit Jul. Journalize the adjusting of the Manufacturing Overhead account. (Prepare a single compound journ Date Accounts and Explanation Debit Credit Jul. Requirement 5. Root intentionally hired more highly skilled workers during July. How did this decision affect the cost variances? Overall, was the decision wise? Hiring more-skilled, higher-paid labor led to direct labor cost variance. Given the direct labor efficiency variance, it appear that these more-skilled workers performed officiently The overall net effect is thus management's decision was

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