The Yemen division of an American 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. Actual Costs Incurred Actual Input x Budgeted Rate Flexible Budget Allocated Overhead Variable OH 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. Data table Variable manufacturing overhead costs incurred Variable manufacturing overhead cost rate Fixed manufacturing overhead costs incurred Fixed manufacturing overhead costs budgeted Denominator level in machine-hours Standard machine-hour allowed per unit of output Units of output Actual machine-hours used Ending work-in-process inventory $617,980 $8 per standard machine-hour $146,400 $139,000 69,500 1.2 64,500 76,300 0