The Martinez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 3,800 output units per year, included 5 machine-hours of variable manufacturing overhead at $7 per hour and 5 machine-hours of fixed manufacturing overhead at $13 per hour. Actual output produced was 4,100 units. Variable manufacturing overhead incurred was $245,000. Fixed manufacturing overhead incurred was $370,000. Actual machine-hours were 26,500. Read the feauirements Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. Begin by calculating the following amounts for the variable overhead. Actual Input X Actual Costs Incurred Flexible Budget Allocated Overhead Budgeted Rate Variable OH Requirements Jble 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. 2. Prepare journal entries using the 4-variance analysis. 3. Describe how individual fixed manufacturing overhead items are controlled from day to day. 4. Discuss possible causes of the fixed manufacturing overhead variances. Wat Print Done