Superb-Cut processes bags of frozen organic vegetables sold at specialty grocery stores. Superb-Cut allocates manufacturing overhead based on direct labour hours. Superb-Cut actually processed 177,500 cases of frozen organic vegetables during the year and incurred $842,500 of manufacturing overhead. Of this amount, $500,000 was fixed. (Click the icon to view the additional data.) Requirements .... Requirement 1. What is the flexible budget (for the actual output) for variable overhead? For fixed overhead? For total overhead? Superb-Cut Flexible Budget for Actual Outputs Variable manufacturing overhead Fixed manufacturing overhead Requirements X Total manufacturing overhead Additional data 1. What is the flexible budget (for the actual output) for variable overhead? For fixed overhead? For total overhead? 2. How much overhead would have been allocated to production? 3. Use your answer from Requirement 1 to determine the overhead flexible budget variance. What does this tell managers? 4. Use your answer from Requirements 1 and 2 to determine the production volume variance. What does this tell managers? 5. What is the total overhead variance? Standard variable overhead rate Standard fixed overhead rate Standard total overhead rate Amount of cases processed Standard fixed overhead Direct labour standard for each case $4 S16 $20 162,500 $650,000 0.25 hr Print Done Print Done a