11.25Overhead variances: manufacturer LO5] standard manufacturing overhead costs per switch are based on direct 1abour hours and are a& follows Bright Spark Ltd is a manufacturer of electrical switches, and uses a standard costing system. The Variable overhead (5 hours$12 per hour) Fixed overhead (5 hours@$18 per hour)* Total overhead $ 60 90 $150 Based on capacity 300000 irect labour hours per month The following information is available for the month of October: 56000 switches were produced, although 60000 switches were budget 275000 direct labour hours were worked at a total cost of $3 825000 Variable overhead costs were $3 510000 Fixed overhead costs were $5625000. Required: Calculate the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances for October, Indicate whether each variance is favourable or unfavourable