Reed company uses a standard costing system. manufacturing overhead is applied to products based upon machine hours (MH). Use the following information to make the required calculations: standard mh allowed 3 mh/unit standard variable overhead rate $5/mh actual units 18,000 units budgeted units (used for the denominator) 20,000 units variable overhead spending variance $4,000 U actual cost - fixed overhead $105,000 budgeted fixed overhead $120,000 actual mh used 56,000 mh calculate: a) budgeted machine hours allowed for the actual output of 18,000 units b) denominator machine hours c) fixed overhead rate per unit and machine hours d) actual variable overhead cost e) variable overhead efficiency variance f) fixed overhead spending variance g) production volume variance h) over or under applied variable overhead (make sure you indicate whether it is over or under ) i) over or under applied fixed overhead (make sure you indicate whether it is over or under )