QUESTION C: Overhead variances (Introductory management accounting review) Jimmy Java manufactures coffee-makers. The following summarized manufacturing overhead information was taken from their ledger accounts for the year ended December 31, 2019. Variable manufacturing Fixed manufacturing overhead overhead 65,608 67,200 379,440 376,320 The production manager provided the following additional information: Budgeted number of output units 888 coffee-makers Planned allocation rate 3 machine hours per unit Actual number of machine-hours used 2,643 Static-budget variable manufacturing overhead cost $66,600 Static-budget fixed manufacturing overhead cost $372,960 5. Calculate the actual number of coffee makers made, 6. Calculate the actual number of machine-hours used to make each coffee- maker For these 2 questions, remember to indicate whether the variance is favourable or unfavourable (and show calculations): 7. Calculate the rate and efficiency variances for variable overhead: Rate variance: Efficiency variance: 8. Calculate the rate and production-volume variances for fixed overhead. Rate variance: Production volume variance: 9. Calculate the balance in the fixed manufacturing overhead account and determine whether it is over or underapplied