Budgeting and Variance Analysis for Overhead Costs: A company prepares a flexible budget for overhead costs based on the following information:

Budgeted machine hours: 10,000 hours

Variable overhead rate per machine hour: $5

Fixed overhead costs: $50,000 During the period, actual machine hours worked were 9,500, and actual overhead costs incurred were $95,000. Calculate the variable overhead spending variance, variable overhead efficiency variance, fixed overhead spending variance, and fixed overhead volume variance.