Brady and McKenzie, Inc. manufactures 1960 s style surf boards. Before the new period began, management prepared the following manufacturing overhead budget for an expected activity level of 20,000 direct labor hours: At the end of the period, the company noted that 4,000 fewer direct labor hours were logged than expected. The total actual manufacturing overhead costs during the period was $575,000,$220,000 of which was variable manufacturing overhead. With regard to the data above, which of the following statements is correct? The master budget variance related to variable manufacturing overhead is $105,000U. The volume variance for manufacturing overhead is $60,000F. Assuming a materiality threshold of $50,000, the flexible budget variance for fixed manufacturing overhead should be investigated. The volume variance for variable manufacturing overhead is $80,000F. More than one of the above statements is correct