Charles Xavier is the newly appointed president of Beams Products. he is examining the May 2020 results for the Aerospace Products division. This division manufactures exterior panels for satellites. Xavier's current concern is with manufacturing overhead costs at the aerospace products division. Both variable and FMOH costs are allocated to the panels based on Beam - cutting-hours. The budgeted cost rates are VMOH of $200 per hour and FMOH of $240 per hour. The budgeted laser-cutting time per panel is 1.50 hours. Budgeted production and sales for 2018 are 5,000 panels. Budgeted FMOH costs for May 2020 are $1,800,000. Exterior panels produced and sold: 4,800 units Beam-cutting-hours used 8,400 hours Variable manufacturing overhead costs $1,478,400 Fixed manufacturing overhead costs $1,832,200 1. Calculate the rate variance and the efficiency variance for VMOH 2. Calculate the rate variance and the production variance for fixed manufacturing overhead 3. What nonfinancial variables could Laser Products use as performance measures 4. What customer satisfaction measures would be important to Beam's Products? 5. Charles Xavier wants to purchase a new beam machine but is not sure what to include in the cost of the machine. She would like to you find the appropriate section of the CPA handbook that deals with what can and cannot be included when recording the cost of the new asset