Talored Clobling is a manufacturef designer suts. The cost of each suit is the sum of three variable costs (direct material costs, drect manufacturing labor costs, and marufacturing overtiead costs) and one foxed-cost category (manufacturing overhead costs) 1. (Click the icon to vew additionst information) Read the reouirements Requirement 1. Compule the flexble-budget variance, the spending variance, and the effciency variance for varuble manulacturing overhead. Begin by computing the following amoures for the variable manufactuting ovectiead Now compute the varianoes: fievible-budget variance. then spending variance, and finaly the effiency variance. Label each variance as favorable (F) or unfavorable (U): Requirement 2 Comenent on the results. More info Variable manufacturing overhead cost is allocated to each suit on the basis of budgeted direct manufacturing labor-hours per suit. For June 2020, each suit is budgeted to take 4 labor-hours. Budgeted variable manufacturing overhead cost per labor-hour is $12. The budgeted number of suits to be manufactured in June 2020 is 1,020. Actual variable manufacturing overhead costs in June 2020 were $57,000 for 960 suits started and completed. There were no beginning or ending inventories of suits. Actual direct manufacturing labor-hours for June were 4,560. Requirements 1. Compute the flexible-budget variance, the spending variancet and the efficiency variance for variable manufacturing overhead. 2. Comment on the results