Overhead Variances: Space, Inc., shows the following overhead information for the current period:

Required: What are the variable overhead price and efficiency variances and fixed overhead price variance?

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Actual overhead incurred Budgeted fixed overhead Standard variable overhead rate per direct labor-hour Standard hours allowed for actual production Actual labor-hours used $14,700, of which $9,800 is variable 4.320 3 3,500 hours 3,300