Calculating the Variable Overhead Spending and Efficlency Variances Standish Company manufactures consumer products and provided the following information for the month of February: 1. Calculate the variable overhead spending variance using the formuls approach. (If you compute the actual variable overhead rate, carry your computations out to five significant digits and round the variance to the nearest dollar.) 5 2. Calculate the variable overhead efficiency variance using the formula approach. 3. What if 26,400 direct labor hours were actualy worked in february? What impact would that have had on the variable overhesd spencing variance? The variable overhead spending varance What impact would that have had an the variable overhead efficiency variance? The variable overhead efficlency variance