Problem: 4 variance analysis, fill in the blanks. Use the following manufacturing overhead cost to fill in the following blanks.

Actual costs incurred: Variable $33,000--Fixed $26,000

Cost allocated to products: Variable $34,000--$21,250

Flexible budget: Budgeted input allowed for actual output produced X budgeted rate: Variable $34,000--Fixed $36,000

Actual input X budgeted rate: Variable $36,000--Fixed $20,000

Use F for favorable and U for unfavorable

(1) Spending variance --Variable _________Fixed__________

(2) Efficiency variance --Variable _________Fixed__________

(3) Product volume variance--Variable_________Fixed__________

(4) Flexible-budget variance--Variable__________Fixed__________

(5) Underallocated (overallocated) manufacturing overhead--Variance _________ Fixed ___________

Explain your answer