Acompanv has a standard costing system that applies overhead using machine hours. Each item produced requires 2.5 hours of machine time and the budgeted level of activ'rlv is 1,000 machine hours. The predetermined overhead rate for xed overhead is $5.50 per machine hour. The exible budget for manufacturing overhead is as follows: Machine Hours: Per MH LE 1,500 LE Variable overhead costs $ 2.65 5 2,650 $ 3,9?5 $ 5,300 Fixed overhead cost r am @500 Total overhead costs 5 2m $ , $ The most recent year had the following resuits: Actual number of units produced 450 Actual machine hours worked 1,1?0 Actual variable overhead costs $3,150 Actual fixed overhead costs $5,550 Required: Calculate the following: Blank #1: Fixed overhead budget variance [1 mark] Blank #2: Is the fixed overhead budget variance favourable or unfavourable? [enter F or U in the blank] {1 mark] Blank #3: Fixed overhead volume variance [1 mark} Blank #4: Is the fixed overhead volume variance favourable or unfavourable? {enter F or U in the blank] {1 ma rk}