Elegance is a manufacturer of ceramic bottles. E (Click the icon to view the standards.) B (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? Data Table post i Data Table X The company has these standards: Last month, Elegance reported the following actual results for the production of 71,000 bottles: Direct materials (clay) . 1.2 kg per bottle, at a cost of $0.46 per kg Direct labour ..... 1/5 hour per bottle, at a cost of $14.20 per hour , a Direct materials . 1.4 kg per bottle, at a cost of $0.60 per kg Direct labour Static budget variable overhead $70,200 1/4 hour per bottle, at a cost of $13.10 per hour Actual variable overhead S29,120 $ 104,900 Static budget fixed overhead Static budget direct labour hours 10,400 hours Actual fixed overhead $28,300 Static budget number of bottles .......49,000 Elegance allocates manufacturing overhead to production based on standard direct labour hours. Print Done tive Print Done Elegance is a manufacturer of ceramic bottles. (Click the icon to view the standards.) 2 (Click the icon 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 What does the total manufacturing overhead variance tell management? This variance tells managers that Elegance V manufacturing overhead by S. Requirement 2. Compute the overhead flexible budget variance. What does this tell management? Identify the formula labels and compute the overhead flexible budget variance. (Enter the result as a positive number. Label the variance as favourable (F) or unfavourable (U).) Overhead flexible budget variance: Choose from any list or enter any number in the input fields and then continue to the next question. Elegance 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? Overhead flexible budget variance What does the overhead flexible budget varlance tell management? This variance tells managers that Elegance actually incurred $ for manufacturing overhead than they would have expected for the actual volume produced during the year. Requirement 3. Compute the production volume variance. What does this tell management? Identify the formula labels and compute the production volume variance. (Enter the result as a positive number. Label the variance as favourable (F) or unfavourable (U).) Production volume variance: Production volume variance What does the reduction valuma warianna toll mananamant Identify the formula labels and compute the production volume variance. (Enter the result as a positive number. Label the variance as favourable (F) or unfavourable (U).) Production volume variance: Production volume variance What does the production volume variance tell management? This variance tells managers that $ of the total overhead variance arose because Elegance produced bottles than originally expected. It is because Elegance used its plant capacity originally anticipated