Question 3: Erie Co. uses machine hours to apply standard overhead cost to production. The following data pertain to October: : Master budget data: Units 2,500: Total machine hours 100,000: . . . .. Total variable overhead cost : $ 250,000: . . . ......mmm. Total fixed overhead cost $ 50,000: :Actual operating results: Variable overhead cost incurred : $ 265,000: Fixed overhead cost incurred $ 54,000: Units manufactured 2,250: .......".................." Total machine hours 96,000: Required; 1. Compute the following: :Predetermined variable MOH rate :Predetermined fixed MOH rate F-................................. :Standard machine hour per unitRequired: 1. Compute the following: :Predetermined variable MOH rate $ 100.00 Predetermined fixed MOH rate $ 20.00: Standard machine hour per unit 40.00: 2. Compute the following variances using machine hours as the activity variable used to assign standard overhead costs to production. a. Variable overhead spending variance Actual quantity 96.000.00 Actual rate Actual variable MOH Standard rate Standard quantity :Flexible budget based on inputs Variable able MOH spending variance Fb. Variable MOH efficiency variance Standard quantity Standard rate Flexible budget based on inputs Actual quantity Actual rate Flexible budget based on outputs :Variable MOH efficiency variance c. Fixed overhead spending variance Budgeted fixed factory overhead Applied fixed factory overhead Fixed overhead spending variance - -- -c. Fixed overhead spending variance Budgeted fix factory overhead Applied fixed factory overhead Fixed overhead spending Tariance d. Fixed overhead production-volume variance Actual fixed factory overhead Applied fixed factory overhead Production Volume Variance F