Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) Requirements (Click the icon to view the actual results.) 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? C Requirement 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) Begin by computing the variable manufacturing overhead rate variance. First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead. Actual Results Variable overhead rate variance - Standard Price and Volume Ceramics Etc. allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,900 flower pots: Direct materials. Direct labor... Actual variable manufacturing overhead. Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production..... Purchased 18,750 pounds at a cost of $4.30 per pound; . used 18,050 pounds to produce 1,900 pots . Worked 2.4 hours per flower pot (4,560 total DLH) at a cost of $19.00 per hour $4.30 per direct labor hour for total actual variable manufacturing overhead of $19,608 $21,400 $22,800 Direct materials (resin) Direct labor... Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate. 9 pounds per pot at a cost of $4.00 per .pound .2.0 hours at a cost of $20.00 per hour . $4.00 per direct labor hour $21,800 . $6.00 per direct labor hour (DLH) Print Done