The following information applies to the questions displayed below.] The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot includes direct materials, direct labor, and manufacturing overhead. The firm traces all direct costs to products, and it assigns overhead based on direct labor hours. of boots in March. on variable overhead during the month. capacity is 2,000 direct labor hours per month (to manufacture 4,000 pairs of boots). The company budgeted $9,600 variable overhead and 2,000 direct labor hours to manufacture 4,000 pairs The factory used 3700 direct labor hours in March to manufacture 3,800 pairs of boots and spent $16,800 For March the Platter Valley factory of Bybee Industries budgeted $92,000 of fixed overhead. Its practical The actual fixed overhead incurred for the month was $95,000. The Platter Valley factory of Bybee Industries uses a three-variance analysis of the total factory overhead variance. Required 1. Compute the total overhead spending variance, the efficiency variance, and the fixed overhead production volume variance. Spending Variance Efficiency Variance Production Volume Variance 2. Determine the spending variances (both variable and fixed), the efficiency variance, and the fixed overhead production volume variance. Four-Way Analysis of Total Overhead Variance Variable overhead spending variance Fixed overhead spending variance Efficiency variance Production volume variance