Opulence Clothing is a manufacturer of designer suits. The cost of each suit is the sum of three variable costs (direct materials costs, direct manufacturing labour costs, and manufacturing overhead costs) and one fixed-cost category (manufacturing overhead costs). VMOH cost is allocated to each suit based on budgeted direct manufacturing labour-hours (DMLH) per suit. For June 2018, each suit is budgeted to take 4 labour-hours. Budgeted VMOH costs per labour-hour are $12.00. The budgeted number of suits to be manufactured in June 2018 is 1,160 and the actual number of suits started and completed is 1,200. Opulence Clothing allocates FMOH to each suit using budgeted (DMLH) per suit. Data pertaining to (FMHO) for June 2018 are $52,200 budgeted and $63,915 actual. Required Begin by computing the following amounts for the FMOH. Same Budgeted Lump Sum Actual Costs Regardless of Incurred Output Level Flexible Budget: Same Budgeted Lump Sum Regardless of Output Level Allocated Overhead Required 1. Calculate the rate variance for FMOH. Comment on these results. 2. Calculate the production-volume variance for June 2018. What inferences can Opulence Clothing draw from this variance? 3. Calculate the over- or underallocated FMOH. What does this tell the management about June's performance? Print Done - X