Required: 1. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Answer is not complete. Complete this question by entering your answers in the tabs below. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) o unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficienc Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficienc) Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Required: 1. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Answer is not complete. Complete this question by entering your answers in the tabs below. Compute (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for 2022. Label each variance as favorable (F) or unfavorable (U). variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) o unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficienc Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). variance for 2022. Label each variance as favorable (F) or unfavorable (U). 2. Assume that the company includes all setup costs as variable factory overhead. The budgeted total fixed overhead, therefore, is $200,000, and the standard variable overhead rate per setup is $2,600. What are (a) the total overhead spending variance, (b) the overhead efficiency variance, and (c) the total overhead flexible budget variance for the year? Label each variance as favorable (F) or unfavorable (U). 3. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficienc) Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Assume that the company uses only machine hours as the activity measure to apply both variable and fixed overhead, and that it includes all setup costs as variable factory overhead. What are (a) the Total Overhead Spending Variance, (b) the Overhead Efficiency Variance, and (c) the total Overhead Flexible Budget Variance for the year? Indicate whether each variance is favorable (F) or unfavorable (U)