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Luxury Clothing is a manufacturer of designer suits. For June 2017, each suit is budgeted to take 3 labor-hours. The budgeted number of suits to be manufactured in June 2017 is 1,180. Luxury Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2017 are budgeted, $53,100, and actual, $63,920. In June 2017 there were 1,220 suits started and completed. There were no beginning or ending inventories of suits. Begin by computing the following amounts for the fixed manufacturing overhead. Flexible Budget: Same Budgeted Lump Summ Same Budgeted Lump Sum Actual Costs Regardless of Regardless o Allocated Output Level Output Level Incurred Overhead Now compute the spending variance. Label the variance as favorable (F) or unfavorable (U). Spending variance Comment on the results. Compute the production-volume variance. Label the variance as favorable (F) or unfavorable (U). Production-volume variance