FIXED MANUFACTURING OVERHEAD, VARIANCE ANALYSIS Esquire Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2014 are budgeted, $62,400, and actual, $63,916. REQUIREMENTS: 1. Compute the spending variance for fixed manufacturing overhead. Comment on the results. 2. Compute the production-volume variance for June 2014. What inferences can Esquire Clothing draw from this variance?