Tules Company is planning to produce 2,400,000 power drills for the coming year.

Each drill requires one-half standard hour of labor for completion. The company uses direct labor hours to assign overhead to products. The total overhead budgeted for the coming year is $2,700,000, and the standard fixed overhead rate is $0.55 per unit produced. Actual results for the year follow: lop5 Actual production (units) 2,360,000 Actual direct labor hours 1,190,000 Actual variable overhead $1,410,000 Actual fixed overhead $1,260,000 Required:

1. Compute the applied fixed overhead.

2. Compute the fixed overhead spending and volume variances.

3. Compute the applied variable overhead.

4. Compute the variable overhead spending and efficiency variances.