Calculate and interpret overhead variances.

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.

Requirements

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. Doublecheck : Do the two variances (computed in Requirements 2 and 3) sum to the

total overhead variance computed in Requirement 1?

(Can you please show the work)