Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 33,000 shares authorized, 16,800 shares issued, and 13,200 shares of common stock outstanding. The journal entry to record the dividend declaration is:a. Deblt Retained Earnings $6.600: credit Common Dividends Payable $6.600. b. Debrt Common Diwidends Payable $6.600. credit Cesh $6.600 c. Debit Retained Earnings $8.400 credit Common Dividends Payable $8.400 d. Debit Common Dividends Payable $8.400: credit Cash $8,400 e. Debit Retained Earnings $16.500: credit Common Dividends Payable $16,500

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.