Data table Actual Static Meal Delivery Fast (May) Results Budget Output units (number of deliveries) 8,200 9,000 Hours per delivery 0.70 Hours of delivery time 5,650 Variable overhead cost per hour of delivery time $ 1.75 Variable overhead costs $ 10,170 Fixed overhead costs $ 38,700 $ 37,800 Meal Delivery Fast (MDF) operates a meal home-delivery service. It has agreements with 20 restaurants to pick up and deliver meals to customers who phone or fax orders to MDF. MDF allocates variable and fixed overhead costs on the basis of delivery time MDF's owner, John Parker, obtains the following information for May overhead costs: 4| (Click the icon to view the information.) Required 1. Calculate rate and efficiency variances for MDF's variable overhead in May. 2. Calculate the rate variance and production-volume variance for MDF's fixed overhead in May. 3. Comment on MDF's overhead variances and suggest how John Parker might manage MDF's variable overhead differently from its fixed overhead costs. Requirement 1. Calculate rate and efficiency variances for MDF's variable overhead in May. Begin by calculating the following amounts for the variable overhead. (Round your answers to the nearest dollar.) Actual input Actual costs X Flexible incurred budgeted rate budget Variable OH