Special Manufacturers has the following details for its variable overheads for July on its Startrek product. Each Startrek is expected to take three labour hours and variable overheads are expected to be £4.25 per labour hour. The fi rm expects to make 200,000 Startreks. In actual fact, it makes 180,000 Startreks using 630,000 labour hours. Its budgeted fixed overheads were £25,000. However, it actually spends £23,000 on fixed overheads. Actual variable overheads are £2,800,000.

Required:

Calculate the:

(i) overall variable overheads cost variance

(ii) variable overheads price variance

(iii) variable overheads quantity variance

(iv) fixed overheads variance.