CANOE CORP. is established to produce and sell canoes to use in the near lake. They have decided to control their costs by standard costing system. Financial information for a period of time are given below, compute the manufacturing overhead Spending and Efficiency variances.

Standard $($Budgeting$)$ capacity is $500\frac{H}{?}$ Month.

Actualized $200$ canoes during the budgeting month.

Budgeted Fixed Manufacturing Overhead is $125\mathrm{.}000$ $$/$Month$.$

Variable Manufacturing Overhead Rate is $50$$ per Direct Labor Hour $($DLH$).$

Budgeted production time span for one canoe is $2$ Hours.

They have actualized $440$ DLH in the same period.

Total Manufacturing Overhead reached to $149\mathrm{.}200$ $ at the end of the period.

SPENDING VAR$$ANCE: Actual MO $-$ MO at Actual Hours with Std$.$ Rate

EFF$$CIENCY VAR$$ANCE: MO at Std$.$ Hours with Std$.$ Rate