E8-25 (similar to) Question Help The Tolerances Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hours per unit. The following table shows the budgeted amounts and actual results related to overhead for June 2017. Actual Static The Tolerances Corporation (June 2017) Results Budget 240 312 Number of centrifuges assembled and sold Hours of assembly time Variable manufacturing overhead cost per hour of assembly time Variable manufacturing overhead costs Fixed manufacturing overhead costs 110 $ 30.00 $11,770 $10,340 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances Prepare iournal entries for Tolerances' June 2017 variable and fixed manufacturing overhead costs and variances; write off these variances to Cost of Goods Sold for the quarter ending June 30, 2017 How does the planning and control of variable manufacturing overhead costs differ from the planning and control of fixed manufacturing overhead costs? 2. 3