Calgary Paper Company produces paper for photocopiers. The company has developed standard overhead rates based on a monthly capacity of 82,000 direct-labor hours as follows: $12 Standard costs per unit (one box of paper): Variable overhead (3 direct-labor hours @ $4) Fixed overhead (3 direct-labor hours @ $12) Total $ 48 During April, 32,800 units were scheduled for production: however, only 26,800 units were actually produced. The following data relate to April. 1. Actual direct-labor cost incurred was $1,700,000 for 85,000 actual hours of work. 2. Actual overhead incurred totaled $1,342,000, of which $442,000 was variable and $900,000 was fixed. Required: Prepare two exhibits similar to Exhibit 11-6 and Exhibit 11-8, which show the following variances. State whether each variance is favorable or unfavorable, where appropriate. 1. Variable-overhead spending variance. 2. Variable-overhead efficiency variance. 3. Fixed-overhead budget variance. 4. Fixed-overhead volume variance. Req 1 and 2 Req 3 and 4 Variable-Overhead Spending and Efficiency Variances. (Select "None" and enter "O" for no effect (i.e., zero variance). Round "Actual Rate" and "Standa Variable-Overhead Spending And Efficiency Variances (Hours = Direct-Labor Hours) (2) (3) Projected Variable Overhead Flexible Budget: Variable Overhead (1) (4) Variable Overhead Applied To Work-In- Process Actual Variable Overhead Actual Qty (AQ) Actual Rate (AVR) Actual Qty (AQ) Standard Rate (SVR) Standard Allowed Qty (SQ) Standard Rate (SVR) Standard Allowed Qty (SQ). Standard Rate (SVR) 85,000 85,000 X 80,400 80,400 $ 4.00 per hour $ 4.00 per hour $ 4.00 per hour hours per hour hours hours hours $ 340,000 $ 321,600 $ 321,600 Unfavorable Unfavorable None Variable-overhead spending variance Variable-overhead efficiency variance No difference Fixed-Overhead Budget and Volume Variances. (Select "None" and enter "O" for no effect (i.e., zero variance).) (3) . (1) Actual Fixed Overhead Fixed-Overhead Budget And Volume Variances (Hours = Direct-Labor Hours) (2) Budgeted Fixed Overhead Applied To Work In Fixed Overhead Process Standard Standard Fixed- Allowed Overhead Hours Rate hours per hour Fixed-overhead budget variance Fixed-overhead volume variance