8-33 Identifying favorable and unfavorable variances. Tred-America, Inc., manufactures tires for large auto companies. It uses standard costing and allocates variable and fixed manufacturing overhead based on machine-hours. For each independent scenario given, indicate whether each of the manufacturing variances will be favorable or unfavorable or, in case of insufficient information, indicate "CBD" (cannot be determined). Fixed Variable Variable Fixed Overhead Overhead Overhead Overhead Production- Spending Efficiency Spending Volume Scenario Variance Variance Variance Variance Production output is 8% more than budgeted, and actual fixed manufacturing overhead costs are 7% less than budgeted Production output is 11% more than budgeted; actual machine-hours are 5% less than budgeted Production output is 15% less than budgeted Actual machine-hours are 18% greater than flexible-budget machine-hours Relative to the flexible budget, actual machine-hours are 10% greater, and actual variable manufacturing overhead costs are 15% less