E10-34A (similar to) Earthern Ware is a manufacturer of ceramic bottles. E (Click the icon to view the standards.) E(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).) Total overhead variance: Total overhead variance Data Table Data Table The company has these standards: Last month, Earthern Ware reported the following actual results for the production of 70,000 bottles: Direct materials (clay) Direct materials Direct labour.. 1 kg per bottle, at a cost of $0.46 per kg 1/5 hour per bottle, at a cost of $14.60 per hour $71,400 1.15 kg per bottle, at a cost of $0.50 per kg 1/4 hour per bottle, at a cost of $13.30 per hour Direct labour Actual variable overhead $104,900 $29,580 Static budget variable overhead Static budget fixed overhead Static budget direct labour hours. Static budget number of bottles Actual fixed overhead. ..... $28,500 10,200 hours 51,000 Print Done Earthern Ware allocates manufacturing overhead to production based on standard direct labour hours