Variance Analysis Perform a basic variance analysis for Mike Tire Manufacturing Flexible Budget Actual Cost Flexible Budget Variance

Direct Materials $75,500 $74,000

Direct Labor $101,250 $104,650

Variable Overhead $34,500 $33,495

Total Manufacturing Cost $211,250 $212,145

In the above chart, compute the fixed overhead budget variance.

In the above chart, compute the fixed overhead volume variance.