Question 2 (10 points) The Master Chef manufactures steel cook pots and pans. The standard cost per unit for their largest steel pot is as follows: Variable manufacturing overhead: 1.25 hours @ $5 per hour Fixed manufacturing overhead: 1.25 hours @ $4 per hour During the current month, 4,400 large pots were produced. Production data for the month follows: .A total of 5,600 direct labour hours was worked. Variable manufacturing overhead incurred was $26,600 and fixed overhead incurred was $23,400. The fixed overhead expense budget for the reonth was $24,000 with 6,000 direct labour-hours as the denominator level of activity. Required: Calculate the variable manufacturing overhead and fixed manufacturing overhead variances for the month. (10 marks) Show calculations and label variances (name of variance and favourable or unfavourable).