The Malaysia division of a Canadian telecommunications company uses standard costing for its machine-paced production of telephone equipment. Data regarding production during June are as follows: (Click the icon to view data.) Read the requirements. Requirement 1. Prepare an analysis of all manufacturing overhead variances. Use the 4-variance analysis framework. Begin by calculating the following amounts for the variable overhead Variable mamstacturing overhead costs incurred $616,430 Variable manufacturing overhead cost rate \$8 per standard machine hour Fixed manufacturing overhead costs incurred $146,400 Fixed manufacturing overhead costs budgeted 5135,000 Denominator level in machine-hours Standard machine-hour allowed per unit of output Units of output Actual machine-hours used 76,100 Ending work-in-process inventory 0 Print Done Requirements 1. Prepare an analysis of all manufacturing overhead variances. Use the 4-variance analysis framework. 2. Prepare journal entries for manufacturing overhead costs and their variances. 3. Describe how individual variable manufacturing overhead items are controlled from day to day. 4. Discuss possible causes of the variable manufacturing overhead variances