Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 34 setups and 34,000machine hours to manufacture 8,500 units for the year. Selected data for 2022 follow: Budgeted fixed factory overhead: Setup cost $ 85,000 Other 186,000 $ 271,000Total factory overhead cost incurred $ 485,000Variable factory overhead rate: Per setup $ 400 Per machine hour $ 5.00Total standard machine hours allowed for the units manufactured 27,000 hoursMachine hours actually worked 32,500 hoursActual total number of setups 30Actual number of units produced during the year 6,750Standard number of setups for units produced during the year 27 Required: 1. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budgetvariance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is$186,000, and the standard variable overhead rate per setup is $2,900. What are (a) the total overhead spending variance, (b) theoverhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) orunfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that itincludes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead EfficiencyVariance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) orunfavorable (U). Required 1 Required 2 Required 3 Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexiblebudget variance for 2022. Label each variance as favorable (F) or unfavorable (U). (a) Spending variance (b) Efficiency variance (c) Flexible-budget variance Required 1 Required 2 Required 3 Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore,is $186,000, and the standard variable overhead rate per setup is $2,900. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance asfavorable (F) or unfavorable (U). Show less A (a) Spending variance (b) Efficiency variance (c) Flexible-budget variance Required 1 Required 2 Required 3 Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, andthat it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) theOverhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether eachvariance is favorable (F) or unfavorable (U). Show less A a) Spending variance (b) Efficiency variance (c) Flexible-budget variance