Discuss how one can evaluate their perfomance against their budget.

apa format writings for a graduate master3 or more reference and proper citations in paper per APA MANUELTHE RUBLIC IS SAME PER LAST ASSIGNMENTMUST INCLUDE AN EXCEL OF THE CALCULATION PER QUESTION AND 750 WORDS DOCUMENT EXPLANATION OF THE CALCULATION IN DETAIL AND PART bOne of your clients, Moore Manufacturing has asked you to assist them in evaluating their performance against their budgets. The management of Moore Manufacturing has provided the following standard cost sheet for one of its products:Moore Manufacturing applies factory overhead based on direct labor hours and factory overhead is allocated based on a practical capacity of 500 units of product.The actual operating results for the year are as follows:Determine the following for the period:Flexible budget for variable overhead based on output for the periodTotal variable overhead applied to production during the periodTotal budgeted fixed factory overheadTotal fixed factory overhead applied to production during the periodCalculate the following variances using four-variance analysis:Total variable overhead varianceVariable overhead spending varianceVariable overhead efficiency varianceTotal under applied or over applied variable overheadFixed overhead spending varianceProduction volume varianceTotal fixed overhead varianceTotal under applied or over applied fixed overheadCalculate the following variances using three-variance analysis:Factory overhead spending varianceFactory overhead efficiency varianceProduction volume varianceCalculate the total overhead flexible budget variance and the production volume variance using a two-variance analysis.Part Two:In a 750 word document, explain to the management team at Moore Manufacturing about the variances and evaluation of their performance.