=+12-22 K 4-variance analysis OBJECTIVE 5 Haddin Ltd produces chemicals for large biotechnology companies. It has the following data for manufacturing overhead costs during August 2015:

Variable Fixed Actual costs incurred $31 000 $18 000 Costs allocated to products 33 000 14 600 Flexible budget — 13 400 Actual input × Budgeted rate 30 800 —

Required Complete the following, using F for favourable and U for unfavourable:

Variable Fixed 1 Spending variance $_____ $_____ 2 Efficiency variance _____ _____ 3 Production-volume variance _____ _____ 4 Flexible-budget variance _____ _____ 5 Underallocated (overallocated) manufacturing overhead _____ _____