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Martin Foods processes bags of organic frozen fruits sold at specialty grocery stores. i (Click the loon to view additional information.) Read the requirements. Requirement 1. How much variable overhead would have been allocated to production? How much fixed overhead would have been allocal The variable o X Now determine Requirements The fixed overl Requirement 1. How much variable overhead would have been allocated to production? How much fixed overhead would have been allocated to production? 2. Begin by deter (U).) Compute the variable MOH rate variance and the variable MOH efficiency variance. What do these variances tell managers? 3. Compute the fixed MOH budget variance and the fixed overhead volume variance. What do these variances tell managers? Actu This variance t Print Done Now determine variable overead efficiency variance Standard rate Standard hours allowed Actual hours = This variance tells managers that Martin Foods used direct labor hours than anticipated for the actual volume of output. - X More info The company allocates manufacturing overhead based on direct labor hours. Martin has budgeted fixed manufacturing overhead for the year to be $627,000. The predetermined fixed manufacturing overhead rate is $17.00 per direct labor hour, while the standard variable manufacturing overhead rate is $0.85 per direct labor hour. The direct labor standard for each case is one-quarter (0.25) of an hour. The company actually processed 156,000 cases of frozen organic fruits during the year and incurred $684,090 of manufacturing overhead. Of this amount, $644,000 was fixed. The company also incurred a total of 42,200 direct labor hours. Print Done f'given the actual ricors usou humber. Enter any rates to two decimal places. Label the variance as favorable (F) or unfavorable (U).)