Activity Index: Standard direct labour hours 2,000 3,200 3,600 4,000 Variable costs Indirect materials $ 4,000 $ 6,400 $ 7,200 $ 8,000 Indirect labour 2,300 3,680 4,140 4,600 Utilities 3,200 5,120 5,760 6,400 Total variable 9,500 15,200 17,100 19,000 Fixed costs Supervisory salaries 1,000 1,000 1,000 1,000 Rent 3,000 3,000 3,000 3,000 Total fixed 4,000 4,000 4,000 4,000 Total costs $13,500 $19,200 $21,100 $23,000 The company applies total overhead on the basis of direct labour hours at $6.00 per direct labour hour and the standard hours per dining chair is 1/2 hour each. The company's actual production was 5,800 dining chairs with 3,000 actual hours of direct labour. Actual overhead was $18,200, of which $4,100 was fixed. Required: a) Calculate the variable overhead budget and fixed overhead variances. Prepare the entries for manufacturing overhead during the period and the entry to recognize the overhead variances at the end of the period