Breanne banget in increments of o machine-hours. Include all costs in your badget Time allowed: 20 minores The vertible portion of Matray Company's flexible badget for anamfacturing overhead la girm below Machine-hours Varlable overhead costs Cost formula (per machine hour) 10,000 12,000 14,000 Supplies 0.20 2,000 2,400 2.800 Maintenance 0.80 8,000 4,600 11,200 Utilities 0.10 1,000 1,200 1,400 Rework time 0.40 4,000 4,800 5,600 Total variable overhead cost 1.50 15,000 18.000 21,000 During a recent period, the company recorded 11,500 machine-hours of activity. The variable overbend costs incurred were: Supplies Maintenance Utilities Rework time 2,400 8.000 1,100 5.300 The budgeted activity for the period had been 12,000 machine-hours. Required 1 Prepare a variable overhead performance report for the period. Indicate whether variances are favourable (F) or unfavourable (U). Show only a spending variance on your report. 2 Discuss the significance of the variances. Might some variances be the result of others? Explain. Time allowed: 15 minutes Selected information relating to Yost Communus onerations for the most recent sear is given below