E Test: Exam 2 Question 28 of 36 This test: 100 point{s) possible @3 This question: 3 point(s} possible Submit test I9 Modern Mode Clothing is a manufacturer of designer suits. For June 2020' each suit is budgeted to take 4 labor-hours. The budgeted number of suits to be manufactured in June 2020 is 1.200 Modern Mode Clothing v Requirement 1. Compute the spending variance for fixed manufacturing overhead Comment on the results Begin by computing the following amounts for the fixed manufacturing overhead 0 Flexible Budget: Same Budgeted Same Budgeted Lump Sum Lump Sum 0 Actual Costs Regardless of Regardless of Allocated Incurred Output _eve| Output Level Overhead 0 Now compute the spending variance. Label the variance as favorable (F) or unfavorable (U). Spending variance 0 Comment on the results. The xed manufacturing overhead spending variance and Ihe xed manufacturing flexible budget variance are V Modern Mode spent Y the budgeted amount for June 2020 RequirementZ. Compute the production-volume variance for June 2020 What inferences can Modern Mode Clothing draw from this variance? = Test: Exam 2