Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs Standard variable overhead rate per labour hour $2.00 Standard labour hours allowed per unit Actual labour hours used per unit Actual variable overhead rate per hour Fixed overhead allocation rate per hour $4.00 Actual total variable overhead costs $15,372 Actual total fixed overhead costs $23,750 Budgeted variable overhead $21,000 Budgeted fixed overhead $40,000 Fixed overhead allocated to production $25,000 Variable overhead spending variance $540 F Variable overhead efficiency variance $840 F $720 U Fixed overhead volume variance $1,000 F Fixed overhead budget variance $600 U Number of budgeted units for this period Number of actual units produced this period Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs Standard variable overhead rate per labour hour $2.00 Standard labour hours allowed per unit Actual labour hours used per unit Actual variable overhead rate per hour Fixed overhead allocation rate per hour $4.00 Actual total variable overhead costs $15,372 Actual total fixed overhead costs $23,750 Budgeted variable overhead $21,000 Budgeted fixed overhead $40,000 Fixed overhead allocated to production $25,000 Variable overhead spending variance $540 F Variable overhead efficiency variance $840 F $720 U Fixed overhead volume variance $1,000 F Fixed overhead budget variance $600 U Number of budgeted units for this period Number of actual units produced this period