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 The company budgeted $9,660 variable overhead and 2,100 direct labor hours to manufacture 4,200 pairs of boots in March. The factory used 3,900 direct labor hours in March to manufacture 4,000 pairs of boots and spent $17,000 on variable overhead during the month. For March the Platter Valley factory of Bybee Industries budgeted $92.400 of fixed overhead. Its practical capacity is 2,100 direct labor hours per month (to manufacture 4,200 pairs of boots). The actual foxed overhead incurred for the month was $95,600 References Section Break SB The Platter Valley factory of Bybee Industries.. value 10.00 points Exercises 15-31 Three-Variance and Four-Variance Analysis of Factory Overhead [LO 15-21 The Platter Valley factory of Bybee Industries uses a three-variance analysis of the total factory overhead varance 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