RT 3 INFORMATION FOR MANAGING RESOURCES E11.22 Straightforward calculation of overhead variances: manufacturer LO5] of August The data below relate to Super Flash Ltd, a manufacturer of exercise equipment, for the Standard variable overhead rate Standard quantity of machine hours Budgeted fixed overhead Budgeted output $9 per machine hour 4 hours per unit of output $180000 15000 units Actual results for August are as follows: Actual output Actual variable overhead Actual fixed overhead Actual machine time 13500 units $607 500 $183000 60750 machine hours Required: Calculate the following variances, indicating whether each variance is favourable or unfavoru 1 Variable overhead spending variance. 2 Variable overhead efficiency variance. 3 Fixed overhead budget variance. 4 Fixed overhead volume variance. rable: 11.23 Tosi Diagram of overhead variances: manufacturer Refer to the data in 5