Pratt Awning manufactures awnings and uses a standard cost system. The company allocates overhead based Actual cost and operating data from the most recent month are as follows: on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) (Click the icon to view the actual results) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements www curripue in varning overaly variance. Sy valance, unconquery variance or a manong over Variable overhead efficiency variance Requirement 2d. Calculate the fixed manufacturing overhead variances. (Enter the variance as a positive number. Label the variance as favorable (F) or unfavorable (U)) Begin by computing the fixed manufacturing overhead budget variance. First determine the formula for the budget variance, then compute the budget variance for fixed manufacturing overhead Faxed MOH budget variance Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the volume variance for fixed manufacturing overhead. Fixed MOH volume variance