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Can you please help me with answering Requirement #2 using the numbers above and explaining what everything means? Actual Cost Incurred Variable Manufacturing Overhead Actual

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Can you please help me with answering Requirement #2 using the numbers above and explaining what everything means?

Actual Cost Incurred Variable Manufacturing Overhead Actual Input Quantity x Budgeted (Std) Rate Flexible Budget (Applied) Allocated $ 673,000 $ 652,325 $ 640,200 $ 640,200 $ 20,675 UNF $ 12,125 UNF Spending Variance Efficiency Varience $ 8,550 UNF Flexible Budget (TOTAL) Variance Actual Cost Incurred Fixed Manufacturing Overhead Flexible Budget Static FOH Budget (Same as Static) Allocated $1,458,000 $1,300,000 $1,300,000 $ 1,361,905 $ 158,000 UNF Spending Variance $ 61,905 FAV Production Volume Variance $ 96,095 UNF TOTAL Fixed OH Variance Requirement #2 Write a one page letter summarizing: 1. What the variances mean, and 2. What conclusion do you draw from the variances

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