1 Actual Results CenterWare allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,600 flower pots: Direct materials Purchased 20,440 pounds at a cost of $4.10 per pound; Used 19,840 pounds to produce 1,600 pots Worked 2.2 hours per flower pot (3,520 Direct labor total DLH) at a cost of $15.00 per hour Actual variable manufacturing overhead . . $6.60 per direct labor hour for total actual variable manufacturing overhead of $23,232 $20,900 Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production $25,600 Print Done 1 Standard Price and Volume Direct materials (resin). 12 pounds per pot at a cost of $4.00 per pound 2.0 hours at a cost of $16.00 per hour Direct labor Standard variable manufacturing $6.00 per direct labor hour overhead rate $21,600 Budgeted fixed manufacturing overhead Standard fixed MOH rate $8.00 per direct labor hour (DLH) CenterWare is a manufacturer large flower pots for urban settings. The company has these standards: EClick the icon to view the standards.) EE(Click the icon to view the actual results.) Camoute the variable manufacturing overhead variances. What do each of these variances tell management? Compute the fixed manufacturing overhead variances. What do each of these variances tell management? Requirement 1. Compute the variable manufacturing overhead variances. What do each the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance f these variances tell management? (Enter the variances as positive numbers. Enter the currency amounts in the fomulas to favorable (F) or unfavorable (U).) Begin by computing the variable manufacturing overhead rate variance, First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead, Variable overhead rate variance x Now compute the variable manufacturing overthead efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for variable manufacturing overhead Variable overhead efficiency variance Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the volume variance for fixed manufacturing overhead. Fixed MOH =volume variance What do each of these variances tell management? fixed overhead budget variance tells managers that fixed overhead volume variance tells managers that The The