Layt Clock Company has developed the following flexible budget for its overhea

Layt Clock Company has developed the following flexible budget for its overhead costs. Manufacturing overhead at Layt is applied to production on the
basis of standard machine-hours:

Machine Hours

21600

24000

26400

Clocks produced

18000

20000

22000

Variable overhead cost

$127440

$141600

$155760

Fixed overhead cost

$171072

$171072

$171072

Layt was expecting to produce 22000 clocks last year. The actual results for the year were as follows:

Number of clocks produced

21500

Machine-hours incurred

24940

Variable overhead cost

$145899

Fixed overhead cost

$170540

Required:

Compute all four manufacturing overhead variances for Layt.