Fontaine and monroe are forming a partnership. fontaine invests a building that has a market value of $250,000; the partnership assumes responsibility for a $75,000 note secured by a mortgage on the property. monroe invests $100,000 in cash and equipment that has a market value of $55,000. for the partnership, the amounts recorded for the building and for fontaine's capital account are:
a. building $250,000; fontaine, capital $250,000.b. building $175,000; fontaine, capital $175,000.c. building $250,000; fontaine, capital $75,000.d. building $250,000; fontaine, capital $175,000.e. building $175,000; fontaine, capital $75,000

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.