Teri's Furniture uses variance analysis to evaluate manufacturing overhead in its' table factory. The information for the May overhead expenditures is as follows: Budgeted output units Budgeted fixed manufacturing overhead Budgeted variable manufacturing overhead Budgeted direct manufacturing labour hours Fixed manufacturing costs incurred Direct manufacturing labour hours used Variable manufacturing costs incurred Actual units manufactured 14,000 tables $22,400 $3.00 per direct labour hour 0.2 hour per table $24,000 4,000 hours $11,000 15,000 tables a. Required: Calculate the variable manufacturing overhead rate and efficiency variances; and, the fixed manufacturing overhead rate and production-volume variances. b. Prepare all necessary journal entries to record the actual costs, allocated costs, and variances. Keep variable and fixed entries separate