Question 18 (5 points) For the year 2021. KIKO Ltd budgeted to produce 15,000 units of its product, KITO, and to use 30,000 machine hours (that is 2 machine hours per unit of KITO). The company allocates both variable and fixed manufacturing overhead costs using machine hours. Variable manufacturing overhead costs were budgeted at $10 per machine hour, and total budgeted fixed manufacturing costs were $600,000 Actual results for the year 2021 were: 16,000 $633,600 Production of KITO (units) Fixed manufacturing overhead Variable manufacturing overhead Manufacturing labour hours $352,000 35,200 Q18. The fixed manufacturing overheard rate variance is: $6,400 U $32,000 U $33,600 U $6,400 F $33.600 F