Chic Ceramics is a manufacturer of ceramic bottles. (Click the icon to view the standards.) (Click the icon to view the actual results.) Requirements 1. Compute the total manufacturing overhead variance. What does this tell management? 2. Compute the overhead flexible budget variance. What does this tell management? 3. Compute the production volume variance. What does this tell management? Requirement 1. Compute the total manufacturing overhead variance. What does this tell management? Identify the formula labels and compute the total manufacturing overhead variance. (Enter the result as a positive number. Label the variance as favourable (F) or unfavourable (U).) Data table Data table