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Required: 1. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each varience as favorable (f) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $265,000, and the standard variable overhead rate per setup is $2,250. What are (a) the total overhead spending varience, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance. (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Assume that the company uses only machine hours as the activity measure to apply both vanable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year indicate whether each variance is favorable (F) or unfavorable (U). Show less (a) Spending varianco (b) Efficiency variance (c) Flexible budget variance Required: 1. Compute (a) the total overhead spending variance, (b) the overhead efficlency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $265,000, and the standard variable overhead rate per setup is $2,250. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it Includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance. (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $265,000, and the standard variable overhead rate per setup is $2,250 What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). Show less (a) Sponding varianco (b) Efficiency variance (c) Flexible-budget variance $ 650 Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 36 setups and 36,000 machine hours to manufacture 7.200 units for the year. Selected data for 2022 follow: Budgeted fixed factory overhead: Setup cost $ 57,600 Other 265,eee S 322,680 Total factory overhead cost incurred $ 494,888 Variable factory overhead rate: Per setup Per machine hour $ 4.00 Total standard machine hours allowed for the units manufactured 24, Bee hours Machine hours actually worked 28,000 hours Actual total number of setups 32 Actual number of units produced during the year 4,820 Standard number of setups for units produced during the year Required: 1. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $265.000, and the standard variable overhead rate per setup is $2.250. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavoratlle (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it Includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance. (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (or unfavorable (U) 24 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). (a) Spending variance (b) Efficiency variance