Chapter 10 Homework Over Vanc At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical Oirei materials (42.80) $11.28 Director (2 hr $18.00) 36.00 POW (2 hne$5.200 1040 1.40 Standard o per u Lopts overhead rates using practical tume, which is 0,000 units. The actual results for the year we as fotos; (4) ts produced: 79,400 000 1.000 v Compute the vanale venea spending and efficiency variances or a pove numbe 2. Compute the fed overhead spending and severances Enter a pivemes and wet Spending vananc Check My Work more Check My Work Assigment on Previous Not Seve and Ext Submit Agent for Grading Chapter 10 Homework Overhead Variances Book At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products Direct materials (4 lbs $2:00) $11.20 Direct labor (2 hrs. $16.00) FON 2 $5.20) 36.00 10.40 VOH (2 ts $0.70) Standard cost per unt 1.40 $59.00 Lopes computes its overhead rates using practical volume, which is 80,00 units. The actual results for the year follow 4 units product 75,800 (0) Direct laber: 154,900 hours 1818 Po 1. Compute the vanatle overhead spending and efficiency vananes Enter amounts as positive numbers and Feverable over Spending variance Emdency variance 2. Compute the faed overhead spending and volume variances. Enter amounts as petive numbers and set Fable or Un Spending variance Volume variance Previous