Johnson Foods processes bags of organic frozen vegetables sold at specialty grocery company actua ly processed 160.000 cases of frozen organic vegetables during stores. The company allocates manufacturing overhead based on direct labor hours the year and incurred $680,500 of manufacturing overhead of this amount, $630.000 Johnson has budgeted fixed manufacturing overhead for the year to be $631,000. The was fixed The company also incurred a total of 40,400 direct labor hours. predetermined fixed manufacturing overhead rate is $16.80 per direct labor hour, while the standard variable manufacturing overhead rate is $0.80 per direct labor hour The Read the requirements. direct labor standard for each case is one-quarter (0.25) of an hour. Requirement 1. How much variable overhead would have been allocated to production? How much fixed overhead would have been allocated to production? The variable overhead allocated to production is Now determine the fixed overhead allocated to production The fixed overhead allocated to production is Requirement 2. Compute the variable MoH rate variance and the variable MoH efficiency variance. What do these variances te managers? then calculate the varable overhead rate variance Enter the result as a positive number Enter rates to two decimal places. Label the variance as favorable (F or unfavorable (U)) Variable overhead ariance rate This variance tells managers that Johnson Foods actually incurred on variable manufacturing overhead than they would have expected given the actual hours used Now determine the formula for the variable MoH efficiency variance then calculate the efficiency variance (Enter the result as a positive number Enter any rates to two decimal places. Label the variance as favorable (F) or unfavorable (U)) Variable overhead efficiency variance This variance tells managers that Johnson Foods used direct labor hours than anticipated for the actual volume of output. Requirement 3. Compute the fixed MoH budget variance and the fixed overhead volume variance. What do these variances tell managers? determing formula for the fixed MoH budget variance, then calculate the fixed budget variance (Enter the result as a positive number Label the variance as favorable unfavorable Fixed MOH choose from any stor enter any number in the input fields and then continue to the next