Wright Foods processes bags of organic frozen fruits sokd at specialty grocery stores. (Click the icon to view additional information.) Read the requirements Requirement1. How much variable overhead would have been allocated to production? How much fxed overhead would have been allccated to production? The variable overhead allocated to production is $ Now detemine the fixed ovemead allocated to production The fixed overhead allocated to production is $ Requirement 2. Compute the variable MOH rate vaiance and the varable MOH emciency variance What do these variances tell managers? Begin by determing the tormula for the vanable MOH rate variance, then calculate the variable overmead rate vanance. (Enter the result as a positive number. Enter rates to two decimal places. Label the vanance as tavorable (F) or untavorable (U).) Variable overhead x ( )rate variance This vanance tells managers that Wright Foods actual incurred ? on vana le man tacturing ove ead than they would have expected ven the actual hours used Now determine the formula for the variable MOH efficiency variance, then cakculate the efficiency variance. (Enter the result as a positive number. Enter any rates to two decimal places. Label the variance as favorable (F) or unfavorable (U).) Variable overhead x ( efficiency variance x ( This variance tells managers that 'wright Foods used | ? Requirement 3. Compute the foxed MOH budget variance and the ixed overhead volume variance. What do these variances tell managers? Begin by determing the formula for the xed MOH budget variance, then calculate the lxed bucget varlance (Enter the result as a positive number Label the varlance as tavorable (F) or untavorable (U)) direct labor hours than anticipated tor the actual volume of output