Quartnox manufactures paint. The company charges the following standard unit costs to production on the basis of static budget volume of 31,000 cans of paint per month (Click the icon to view the standard unit costs to production.) Quartnox allocates overhead based on standard machine hours and uses the following monthly flexible budget for overhead: (Click the icon to view the monthly flexible budget for overhead.) Quartnox actually produced 35,000 cans of paint using 3,150 machine hours. Actual variable overhead was $17,200, and fixed overhead was $33,000. Compute the total overhead variance, the overhead flexible budget variance, and the production volume variance. Monthly flexible budget for overhead Number of Outputs (cans) 28,000 2,800 31,000 3,100 35,000 3,500 Standard machine hours Identify the formula labels, and compute the total overhead variance. (Enter the result as a positive number. Label the variance as favourable (F) or unfavourable Budgeted manufacturing overhead cost: Total overhead variance Actual overhead cost Variable $ 16,800 $ 18,600 $ 21,000 31,000 Standard overhead allocated to production Fixed 31,000 31,000 Total overhead variance Identify the formula labels, and compute the overhead flexible budget variance. (Enter the result as a positive number. Label the variance as favourable (F) or unf Print Done Overhead flexible budget variance Actual overhead cost Flexible budget overhead for actual outputs Standard unit costs to production Overhead flexible budget variance Identify the formula labels, and compute the production volume variance. (Enter the result as a positive number. Label the variance as favourable (F) or unfavourable (U).) Direct materials 2.70 Production volume variance: Direct labour. 2.40 Flexible budget overhead for actual outputs 1.60 Manufacturing overhead $ 6.70 Standard unit cost