E F G H FenderB (5 points) FenderB company, which uses a standard cost system, manufactures boat fenders and reported the following information during 2020: Static budget value Actual value Total variable overhead $ 2,300 $ 5,350 Total fixed overhead $ 23,000 $ 26,000 Total direct labour hours 575 Number of units (fenders) 23,000 460 20,000 Standard direct labour hours per unit (hour per fender) 0.025 5 5 01 FenderB allocates Variable Manufacturing Overhead to products using direct labour hours. FenderB allocates Fixed Manufacturing Overhead to products using Number of units produced (n. of fenders). First compute the variable overhead allocation rate, then compute the variable overhead variances for 2020: spending/price variance and efficiency variance. 7 8 9 SIGN (F or U) 20 Variable overhead allocation rate 21 Variable overhead spending/price variance 22 Variable overhead efficiency variance 23 24 25 Q2 26 First compute the fixed overhead allocation rate, then compute the fixed overhead applied in 2020. 27 28 29 Fixed overhead allocation rate 30 Fixed overhead applied to prodution 31 32 33 34