1 Exercise 11-22 Straightforward Computation of Overhead Variances (LO 11-5) Crystal Glassware Company has the following standards and flexible-budget data. 1.04 points 03:59:32 Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: $ $138,000 8.00 per direct-labor hour 3 hours per unit of output 23,000 units eBook References Actual output 16,000 units Actual variable overhead $480,000 Actual fixed overhead $133,000 Actual direct labor 55,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).)