1. Pearle Corporation makes automotive engines. For the most recent month, budgeted production was 3,300 engines. The standard power cost is $9.20 per machine-hour. The company's standards indicate that each engine requires 2.1 machine-hours) Actual production was 3.400 engines. Actual machine-hours were 7,160 machine- hours. Actual power cost totaled $61,815. Example: (1) Actual Hours of input Actual Rate LA XAR 1050 hours x $6.50 per hour (2) Actual Hours of Input at Standard Race (AH SR) 1,050 hours x 58.00 per hour 55.300 (3) Standard Hours Allowed for Actual Output at Standard Rate (SW x S) 1.000 hours' x $6.00 per hour - $6.000 Variable overhead rate Variable overhead efficiency variance - $840 U variance $300 U Spending Variance - $1.140 U 2.000 units x 0.5 hours perunt - 1,000 hours 157.140 - 1.050 hours - $8.00 per hour F -Favorable U-Unfavorable Required: Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavorable or favorable. Show your work