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. pairs of boots in March. on variable overhead during the month capacity is 2,500 direct labor hours per month (to manufacture 5,000 pairs of boots). The company budgeted $10,000 variable overhead and 2,500 direct labor hours to manufacture 5,000 The factory used 4,700 direct labor hours in March to manufacture 4,800 pairs of boots and spent $17,800 For March the Platter Valley factory of Bybee Industries budgeted $92,500 of fixed overhead. Its practical The actual fixed overhead incurred for the month was $96,500 2 value 10.00 points Required 1. Compute the flexible-budget variance, the spending variance, and the efficiency variance for variable overhead for March. Spending variance Efficiency variance Flexible-budget variance 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. pairs of boots in March. on variable overhead during the month capacity is 2,500 direct labor hours per month (to manufacture 5,000 pairs of boots). The company budgeted $10,000 variable overhead and 2,500 direct labor hours to manufacture 5,000 The factory used 4,700 direct labor hours in March to manufacture 4,800 pairs of boots and spent $17,800 For March the Platter Valley factory of Bybee Industries budgeted $92,500 of fixed overhead. Its practical The actual fixed overhead incurred for the month was $96,500 2 value 10.00 points Required 1. Compute the flexible-budget variance, the spending variance, and the efficiency variance for variable overhead for March. Spending variance Efficiency variance Flexible-budget variance