Melton Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor hours (DLH). Melton develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2018 is based on budgeted output of 720,000 units requiring 3,600,000 DLH. The company is able to schedule production uniformly throughout the year. A total of 66,000 output units requiring 3 15.000 DLH was produced during May 2018. Budgeted hours allowed per unit of output is 5 hours. Allocated total MOH for May is $396,000. The actual costs, compared with the annual budget and 1/12 of the annual budget are as follows: Annual Manufacturing Overhead Budget 2018 Actual Per Monthly MOH MOH Costs output unit Budget Mayfor May Per DLH Total Amount input unit 2018 2018 variable MOH | $ 900,000! $1.25 1,224,000 1.70 | S 75,000 102,000 $ 75,000 111,000 |$0.25 ndirect labor Supplies 0.34 Fixed MOH Supervision648000 0.90 540,000 0.75 0.18 0.15 0.28 54,000 45,000 84,000 51,000 54,000 84,000 $375,000 Utilities Depreciation 1,008,000 1.40 Total $4,320,000 $6.00 $1.20 5360,000 Required: Compute (showing and labeling all your work) the following variances: The variable manufacturing overhead spending variance 2.) The variable manufacturing overhead efficiency variance The fixed manufacturing overhead spending variance The fixed manufacturing overhead volume variance 4