Cooper Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor-hours (DLH). i (Click the icon to view additional information.) The actual costs, compared with the annual budget and 1/12 of the annual budget, are as follows: (Click the icon to view the data.) Read the requirement. 1. Calculate total manufacturing overhead costs allocated. Begin by computing the budgeted hours per unit. Determine the formula, then compute the amount. Budgeted hours per unit More Info More Info Cooper Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 624,000 units, requiring 3,744,000 DLH. The company is able to schedule production uniformly thorughout the year. A total of 76,000 output units requiring 325,000 DLH was produced during May 2017. Manufacturing overhead (MOH) costs incurred for May amounted to $379,480. Data Table Annual Manufacturing Overhead Budget 2017 Per Per DLH Monthly Actual MOH Total Output Input MOH Budget Costs for Amount Unit Unit May 2017 May 2017 Variable MOH 1.80 $ 0.30 $ 93,600 $ 93,600 Indirect manufacturing labor $ 1,123,200 $ Supplies 748,800 Fixed MOH 1.20 0.20 62,400 113,000 561,600 0.90 0.15 46,800 42,000 Supervision Utilities 0.60 0.10 374,400 898,560 31,200 74,880 56,000 74,880 Depreciation 1.44 0.24 $ 3,706,560 $ 5.94 $ 0.99 $ 308,880 $ 379,480 Total Requirement Calculate the following amounts for Cooper Products for May 2017: 1. Total manufacturing overhead costs allocated 2. Variable manufacturing overhead spending variance 3. Fixed manufacturing overhead spending variance 4. Variable manufacturing overhead efficiency variance 5. Production-volume variance Be sure to identify each variance as favorable (F) or unfavorable (U)