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Required 1. Calculate the rate variance for FMOH. Comment on these results. 2. Calculate the production-volume variance for June. What inferences can Esquire Clothing draw from this variance? 3. Calculate the over- or underallocated FMOH. What does this tell the management about June's performance? Esquire Clothing is a manulachurer of designer sults. The cost of each suil is the sum of tree vanable costs (direct materiass costs. disect mandacturng labour costs, and manutachring everhead costs) and one fwed-cost eategory (manufacturing overhead costs) VuOH cost is alocated bo each sut bssed on budgeted direct manulscturing iabourhours (DMLA) per suit For June, each sut is budgeted to take 4 labourhours. Budgeted vuCH costs per labour hour are $12.00. The budgeted number of suits to be mandactured in June is 1,060 and the achad number of suls started and completed is 1,060 Esquive Clothing allocates FMCw to each sut using budgeted DMLH per sut. Cata pertaining to FMOH costs for Jues are $74.200 budgeted and 563.910 actual, Begin by computing the following amounts for the FMCM Reesirement 1. Calculahe the tale variance for FMOU. Comment on these rosuls Now, caiculate tie rabe varanoe. Label he variance as tavourabie (F) or uriavourable (U). The fieed manutecturng overhed rate variance and the foed manshacturng texide-budget varance are Esquire spent the busgeted amound for dune. Requirement 2. Calculate the production wolume variance for June. What irlerenses cas Esquive Ciething dras ham tis variance? Calculale the productonvolume variavce. Label the vanance as taveuratie of or untrvouratle (H Requirement 2. Calculate the production-volume vanusce for June. What inferences can Esquire Cletheng draw from ths variance? Galoulate the producton velume variace. Label the vanance as tavourable (F) or unfavourable (U) What inferences can Esquie Clothing draw tom this varunce? The producton-volume vachance arises because the actual production of suts is than tet budgeted preduction. This resuls in fand manutacturng overtead Esqure Clothing may want to conuder the folowing tor this bye of producton-volume varance is the markel is Equire marke share? Wa tweve ned is Requirement 2. Calculate the evefi or underalocaled FMOH What does the tel the management abeut dunet persomance? The fued mandacturing overtiead is by 1 Since tha fgure is a cembination of varavces, there is a imbed anount of inderence that can te drawn bom Be vanance. Geven that vanances are relatively when compared to the ongras budpet (\$74, 200), management thould probesly the vanahes