Calgary Paper Company produces paper for photocopiers. The company has developed standard overhead rates based on a monthly capacity of 96,000 direct-labor hours as follows: Standard costs per unit (one box of paper): Variable overhead (2 direct-labor hours@ $6) Fixed overhead (2 direct-labor hours $10) Total $12 20 $32 During April, 41,000 units were scheduled for production: however, only 35,000 units were actually produced. The following data relate to April. 1. Actual direct-labor cost incurred was $1,971,000 for 73,000 actual hours of work. 2. Actual overhead incurred totaled $1,359,900, of which $459,900 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