Wonderworld has the following details for its variable overheads for August for its Teleporter. Each Teleporter is expected to take two labour hours and variable overheads are expected to be £2.50 per labour hour. Wonderworld expects to make 100,000 teleporters. In actual fact, it makes 110,000 teleporters using 230,000 labour hours. Its budgeted fi xed overheads were £10,000. However, it actually spends £9,800 on fi xed overheads. Actual variable overheads are £517,500.

Required:

Calculate the:

(i) overall variable overheads cost variance

(ii) variable overheads price variance

(iii) variable overheads quantity variance

(iv) fixed overheads variance.