The Porter Corporation is a manufacturer with per unit standards as follows: Variable manufacturing overhead: 4 hours @ $5.00 per hour Fixed manufacturing overhead: 4 hours @ $4.50 per hour During the current month 4,400 units were produced with the following results: A total of 16,500 direct labour hours was worked. Variable manufacturing overhead incurred was $79,200 and fixed overhead incurred was $78,000 The fixed overhead expense budget for the month was $76,500 with 17,000 direct labour-hours as the denominator level of activity Required: Calculate the variable and fixed manufacturing overhead variances for the month. (11 marks) Show calculations and label variances (name of variance and favourable or unfavourable)