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Evans Industries produces high-end flutes for professional musicians across the globe. Actual manufacturing overhead for the year was $1,260,000. The flexible budget indicated that fixed overhead should have been $800,000 and variable overhead should have been $450,000 for the number of flutes actually produced. Using a standard costing system, the company allocated $1,290,000 of overhead to production. 1. Calculate the total overhead variance. What does this tell managers? 2. Determine the overhead flexible budget variance. What does this tell managers? 3. Determine the production volume variance. What does this tell managers? 1. Calculate the total overhead variance. What does this tell managers? Identify the formula labels and calculate the total overhead variance. (Enter all values as positive numbers. Label the variance as favourable (F) or unfavourable (U).) Total overhead variance: Total overhead variance What does the total overhead variance tell managers? The variance tells managers that Evans manufacturing overhead by this amount. 2. Determine the overhead flexible budget variance. What does this tell managers? Identify the formula labels and calculate the overhead flexible budget variance. (Enter all values as positive numbers. Label the variance as favourable (F) or unfavourable (U).) Overhead flexible budget variance Overhead flexible budget variance What does the overhead flexible budget variance tell managers? The variance tells managers that Evans actually incurred for manufacturing overhead than they would have expected for the actual volume produced during the year. 3. Determine the production volume variance What does this toll managers? 3. Determine the production volume variance. What does this tell managers? Identify the formula labels and calculate the production volume variance. (Enter all values as positive numbers. Label the variance as favourable (F) or unfavourable (U).) Production volume variance: Production volume variance What does the production volume variance tell managers? Managers can tell from the variance amount that the total overhead variance arose because Evans produced than originally anticipated. flutes than originally expected. It is V, because Evans used its plant capacity efficiently Evans Industries produces high-end flutes for professional musicians acro variable overhead should have been $450,000 for the number of flutes acu 1. Calculate the total overhead variance. What does this tell managers? 2. Determine the overhead flexible budget variance. What does this tell ma 3. Determine the production volume variance. What does this tell managers Total overhead variance: Actual overhead cost Flexible budget overhead for actual outputs Production volume variance Sales volume variance anufacturing over Standard overhead allocated to production Total overhead variance es this tell manag Identify the formula labels and calculate the overhead flexible budget variance Overhead flexible budget variance Choose from any list or enter any number in the input fields and then contin Save for Later Type here to search ans Industries produces high-end flutes for professional musicians across the globe. A iable overhead should have been $450,000 for the number of flutes actually produced Calculate the total overhead variance. What does this tell managers? Determine the overhead flexible budget variance. What does this tell managers? Determine the production volume variance. What does this tell managers? entify the formula labels and calculate the overhead flexible budget variance. (Enter all Overhead flexible budget variance: Overhead flexible budget variance What does the overhead flexible budget variance tell managers? The variance tells managers that Evans actually incurred F for manufact U erhead 3. Determine the production volume variance. What does this tell managers? Identify the formula labels and calculate the production volume variance (Enter all values as Choose from any list or enter any number in the input fields and then continue to the next Save for Later Type here to search o