MBB makes customised small, lightweight, fibreglass boats as a vendor for a large client based on the orders. The manufacturing process involves mixing, molding, finishing and assembly. The variable overheads are incurred in mixing and molding departments and fixed overheads are incurred at the factory level. Both overheads are allocated to each boat based on total factory direct labour hours. During one particular period, MBB estimated/budgeted as follows: 1. Budgeted production = 450 boats, budgeted labour hours at the factory level = 675 hours 2. At this level, budgeted variable overheads in mixing and molding departments = 437,400. 3. At this level, budgeted fixed overheads for the entire plant = 656,100. During this period, 430 boats were manufactured and actual labour hours at the factory level were 690 hours. The actual variable and fixed overheads during the period were 448,500 and 665,500 respectively. Fill in the details in the table on the next page: Particulars Amount Variable overheads variance Breakup of variable overhead variance: (a) Spending Variance (b) Efficiency Variance Fixed overheads variance Breakup of fixed overhead variance: (a) Spending Variance (b) Volume Variance