Calgary Paper Company produces paper for photocopiers. The company has developed standard overhead rates based on a monthly capacity of 64,000 direct-labor hours as follows: Standard costs per unit (one box of paper): Variable overhead (2 direct-labor hours @ $4.50 per hour) Fixed overhead (2 direct-labor hours @ $10 per hour) Total $ 9 20 $ 29 During April, 32,000 units were scheduled for production; however, only 27,000 units were actually produced. The following data relate to April. 1. Actual direct-labor cost incurred was $935,000 for 55,000 actual hours of work. 2. Actual overhead incurred totaled $858,500, of which $258,500 was variable and $600,000 was fixed. Required: Prepare two exhibits similar to Exhibit 11-6 and Exhibit 11-8 in the chapter that show the following variances. State whether each variance is favorable, unfavorable, positive, or negative, where appropriate. 1. Variable-overhead spending variance. 2. Variable-overhead efficiency variance. 3. Fixed-overhead budget variance. 4. Fixed-overhead volume variance. Variable-Overhead Spending and Efficiency Variances. Note: Select "None" and enter "0" for no effect (i.e., zero variance). Round "Actual Rate" and "Standard Rate" to 2 decimal places. Variable-Overhead Spending And Efficiency Variances (Hours = Direct-Labor Hours) (1) Actual Variable Overhead (2) Projected Variable Overhead (3) Flexible Budget: Variable Overhead (4) Variable Overhead Applied To Work-In- Process Actual Quantity (AQ) Actual Rate (AVR) Actual Quantity (AQ) X Standard Rate (SVR) Standard Allowed Quantity (SQ) Standard Rate (SVR) Standard Allowed Standard Rate Quantity (SQ) (SVR) hours per hour hours Unfavorable Variable-overhead spending variance X per hour hours Unfavorable Variable-overhead efficiency variance x per hour hours None No difference per hour Fixed-Overhead Budget and Volume Variances. Note: Select "None" and enter "0" for no effect (i.e., zero variance). Fixed-Overhead Budget And Volume Variances (1) Actual Fixed Overhead (Hours = Direct-Labor Hours) (2) Budgeted Fixed Overhead (3) Fixed Overhead Applied To Work In Process Standard Allowed Hours Standard Fixed- Overhead Rate hours Fixed-overhead budget variance Fixed-overhead volume variance X per hour SA $ 0