Pulence Clothing is a manufacturer of designer suits. For June 2017 2017, each suit is budgeted to take 4 4 labor-hours. The budgeted number of suits to be manufactured in June 2017 2017 is 1 comma 100 1,100. Opulence Opulence Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2017 2017 are budgeted, $ 74 comma 800 $74,800, and actual, $ 63 comma 900 $63,900. In June 2017 2017 there were 1 comma 120 1,120 suits started and completed. There were no beginning or ending inventories of suits. Requirements 1. Compute the spending variance for fixed manufacturing overhead. Comment on the results. 2. Compute the production-volume variance for June 2017 2017. What inferences can Opulence Opulence Clothing draw from this variance? Requirement 1. Compute the spending variance for fixed manufacturing overhead. Comment on the results. Begin by computing the following amounts for the fixed manufacturing overhead. Flexible Budget: Actual Costs Incurred Same Budgeted Lump Sum Regardless of Output Level Same Budgeted Lump Sum Regardless of Output Level Allocated Overhead