Radiance Clothing is a manufacturer of designer suits. The cost of each suit is the sum of three variable costs (direct material costs, direct manufacturing labor costs, and manufacturing overhead costs) and one fixed-cost category (manufacturing overhead costs). i (Click the icon to view additional information.) Read the requirements. Requirement 1. Compute the flexible- Requirements 1. Compute the flexible-budget variance, the spending variance, and the efficiency variance for variable manufacturing overhead. Begin by computing the following amo 2. Comment on the results. Actual Input Qt Actual Costs Incurred Budgeted Rate Now compute the variances: flexible-b Flexible-budget variance Spending variance Efficiency variance Requirement 2. Comment on the results. Print Done rable (F) or unfavorable (U). Requirement 1. Compute the flexible-budget variance, the spending variance, and the efficiency variance for variable manufacturing overhead. Begin by computing the following amounts for the variable manufacturing overhead. Actual Input Qty. Actual Costs Incurred Budgeted Rate Flexible Budget Allocated Overhead Now compute the variances: flexible-budget variance, then spending variance, and finally the efficiency variance. Label each variance as favorable (F) or unfavorable (U). Flexible-budget variance Spending variance Efficiency variance Requirement 2. Comment on the results. Radiance had spending variance because the actual variable overhead rate per direct manufacturing labor-hour was efficiency variance because each suit averaged than the budgeted. It had labor-hours than budgeted