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4: Logical Solutions Logical Solutions reports the following overhead variances for 2016: Spending variance $100,000 F Efficiency variance $100,000 F Volume variance $300,000 F In

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4: Logical Solutions Logical Solutions reports the following overhead variances for 2016: Spending variance $100,000 F Efficiency variance $100,000 F Volume variance $300,000 F In addition, actual overhead incurred in 2016 was $1 million. Overhead is absorbed to products using standard direct labor hours. 2016 volume was budgeted to be 40,000 direct labor hours and fixed overhead was budgeted to be $600,000. Required: What were actual volume, standard volume, and budgeted variable overhead for 2016

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