ABC Ltd usus a flexible budget for overhead to plan and control overhead costs. Overhead costs are applied on the basis of machine-hours (MHs). In 2016, the company had the following data:

	Actual	Flexible Budget	Budget
Units Produced	254,250	26,250	228,000
Machine Hours	1,213,500	73,500	1,140,000
Variable Overhead Costs	1,111,125	142,125	969,000
Fixed Overhead Costs	600,000	30,000	570,000

Find the following:

i.Variable Overhead Efficiency Variance

ii. Variable Overhead Rate Variance

iii. The Fixed Overhead Budget Variance

iv. The Fixed Overhead Volume Variance