4010 antial 80 Problem # 2(18 Marks) 1. Prepare fully labeled variance diagrams for manufacturing overhead including the under or over applied overhead, based on the data shown below. (10 Marks) Denominator level in hours Actual output in units Std. Variable overhead rate per machine hour Actual variable overhead incurred Actual fixed overhead incurred Variable overhead applied Variable overhead Efficiency Variance Fixed overhead budget variance 40,000 21,000 $2.80 $117,000 $302,100 $117,600 $8.400 U $2,100 U VMO Actral overheu d *achal rate Fhal Good Acturt Overheud AStndard at s hudard oreshead Stndard rute 17000x 327600 117o0cx - 21000 2 31M200 (aw 126.000 PDOR: Fired Cverltad Penmh FMO 302100F 2630 3o0000 2000d0 28 30F 730over 100 U