4 variance analysis, fill in the blanks. Rozema Inc., produces chemicals for large biotech companies. It has the following data for manufacturing ovehead costs during August 2015

Actual costs incurred: Variable $31,000--Fixed $18,000

Costs allocated to products: Variable $33,000--Fixed $14,600

Flexible budget: Variable $________--Fixed $13,400

Actual input X budgeted rate: Variable $30,800--Fixed ____________

Use F for favorable and U for unfavorable

(1) Spending variance: Variable $________ --Fixed $__________

(2) Efficiency variance: Variable ________--Fixed_____________

(3) Production-volume variance: Variable_______--Fixed _________

(4) Flexible-budgeted variance: Variable _______--Fixed_________

(5) Underallocated (overallocated) manufacturing overhead: Variable _____--Fixed _______

Questions: I need help on:

How to calculate the actual rate for VMO?

How to calculate the budgeted rate for FMO?

Explain: Why the variances are favorable or unfavorable?

Thank you