Ranier, Inc., produces a special line of toy racing cars. Ranier produces the cars in batches. To manufacture each batch of the cars, Ranier must set up the machines and molds. Setup costs are batch-level costs and are fixed with respect to the number of setup-hours. A separate Setup Department is responsible for setting up machines and molds for each style of car. The following Information pertains to July 2017: Requirement a. Calculate the spending variance for fixed setup overhead costs. (Label the variance as favorable (F) or unfavorable (U).) The spending variance for fixed setup overhead costs is

Raniet, Inc. produces a special ine of toy tacing cars. Rarier produces the cars in batehes. To marufacture each batch of the cark, Rarier must set up the machines and maids Setup costs intomstion pertins to July 2017 . [cick the icon la vitw the imiontaten. Fead the rechicements Requirement a. Calculate the acensing variance for fixed setup oventiead costs. (labter the variance as fovorable (F) of urficterabin (U)) The spending vatiance for fuxed set.p orerhesd costs is Data table Requirements Calculate the following: a. the spending variance for fixed setup overhead costs; b. the budgeted fixed setup overhead rate; and c. the production-volume variance for fixed overhead setup costs