Assume that the Janis Corporation's manufacturing facility actually incurred $2,980,000 of manufacturing overhead for the year. Total fixed manufacturing overhead was budgeted at $3,010,000 Using a standard costing system, the company allocated $2,941,000 of fixed manufacturing overhead to production Read the requirements Requirement 1. Calculate the total fixed manufacturing overhead variance. What does this tell managers? Identify the formula labels and calculate the total overhead variance. (Enter all values as positive numbers. Label the variance as favorable (F) or unfavorable (U).). Total fixed manufacturing overhead variance Requirements - sf ctu 1. Calculate the total fixed manufacturing overhead variance. What does this tell managers? 2. Determine the fixed overhead budget variance. What does this tell managers? 3. Determine the fixed overhead volume variance. What does this tell managers? 4. Double check: Do the two variances (computed in Requirements 2 and 3) sum to the total overhead variance computed in Requirement 1? C Print Done