Question 55 15 pts 1.32 Bizarro Clothing, LLP manufacture clown costumes. The company uses a standard costing systems and analyses variances to help control costs. The standard cost for a costume is: Direct Materials (3 yds @ $4) $ 12.00 Direct Labor (2 hrs @ $9.60) 19.20 Manufacturing Overhead: Variable (2.0 DLH @ $0.66) Fixed (2 DLH @ $2.30) 4.00 5.92 Total Standard Cost $ 37.12 Fixed Overhead was budgeted to be $62,900 in May. Actual May data follows: a. Actual production 13,300 costumes b. Actual Direct Labor 24,400 hours, actual Direct Labor cost $241,560 c. Actual Fixed Overhead $56.902 d. Actual Variable Overhead $20,740 Requirements: 1. Calculate Variable overhead variances: Spending (PriceRate), Efficiency (Quantity) & Flexible Budget. 2. Calculate Fixed overhead variances: Spending, Production-Volume & Total Fixed (Overlunder located)